PayPal is not Coming to Pakistan: IT Minister

[Chanakyaa]

India use local product as Paytm..Although paypal is there, but paytm is popular...

And for a moment stop bringing India into these small things like Paypal to Pakistan..

Add to it that PayPal ACTUALLY bowed down to RBI's terms and conditions. Paypal works very differently in India. and Thats the Power of Indian Economy.

Paypal isnt in BD. Their sister service Xoom is in service here. However I wonder what Paypal can do which my Payoneer cant do. Is this paypal payments are much more easy?

PayPal is Most widely accepted Gateway if you sell things online. Its much safe to send and recieve money via PayPal.

Their fees is High. But You simply dont have an option for them.

 

[Viny]

This obsession with PayPal needs to stop. There are plenty of alternative platforms.

We can easily take the Chinese route (in future we will).

It is up to these easy paisa type services to innovate themselves so much that you don't need to keep physical cash in the wallet.

However, they are taking the slower route with a wait and see approach.

bhai jan its politics they are in somalia congo uganda even where pakistani forces are doing peace keeping duty

its USA and lobbies

Its due to FATF greylisting. Any new financial company will have to bare huge burden if the charter in to FATF greylisted country, which is alleged to have terror financing and poor transactions checking mechanism.
Thus if for some reasons if paypal system is used to transfer funds and which could be later linked to terror activities then entire company has to face the music. Thats the reason paypal wants it to be backed by Government with securities, so that if any such allegations shows up, it would pass it on the governing body and will walk out with securities.

I remember another thread from a few months ago titled paypal coming to Pak and it had tens of pages.
Why this obsession with Paypal? Its nothing special....We have it here and honestly nobody i know uses it...E banking all the way for transfers

In India Paypal had been the main channel of getting payments from international markets for freelancers and many small business houses too and it continues to enjoy the same for international payments and receipt related activities.

Having said that its market share has dropped comparatively with merger of odesk and elance and forming Upwork which has the largest market share of freelancers gig jobs and where payments are done directly to local banks, thus eliminating the need of paypal etc.

 

[Agnihotra]

India have degital age Pakistan have stoneage.

 

[Chanakyaa]

Its due to FATF greylisting. Any new financial company will have to bare huge burden if the charter in to FATF greylisted country, which is alleged to have terror financing and poor transactions checking mechanism.
Thus if for some reasons if paypal system is used to transfer funds and which could be later linked to terror activities then entire company has to face the music. Thats the reason paypal wants it to be backed by Government with securities, so that if any such allegations shows up, it would pass it on the governing body and will walk out with securities.





In India Paypal had been the main channel of getting payments from international markets for freelancers and many small business houses too and it continues to enjoy the same for international payments and receipt related activities.

Having said that its market share has dropped comparatively with merger of odesk and elance and forming Upwork which has the largest market share of freelancers gig jobs and where payments are done directly to local banks, thus eliminating the need of paypal etc.

But still India is VERY IMPORTANT to Them.

https://economictimes.indiatimes.co...nks-to-its-india-arm/articleshow/67359017.cms

BENGALURU: US-headquartered digital payments company PayPal has reported an over twelve-fold jump in revenue generated by its Indian payments subsidiary to Rs 260 crore in financial year 2018 from Rs 21 crore in the previous year, as per data sourced from the corporate affairs ministry.

The surge can be attributed to the opening of the domestic payments business by the company which had engaged only in crossborder transactions until November 2017.

Read more at:
//economictimes.indiatimes.com/articleshow/67359017.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

 

[Men in Green]

Fk the paypal bring adyel to Pakistan.

 

[Enigma SIG]

What is this obsession with Paypal? Pakistan has a lot of branch-less banking products; a simple search turns up at least 4.

Use Payoneer for freelance payments (you can get a debit card of sorts too for online payments).

 

[Zapper]

i have never seen any pakistani post here about cow or urine.yes some members say gangadeshi or things like that but nobody talk about indian religion.i don't even know about indian religion.if you check indian defence forum,you can see lots of things which are completely unacceptable but they justify it and nobody can ban them.there are very few foreign posters on indian defence forum.i haven't seen any chinese member there.majority members are indians.this sums up everything.they dominate entire forum.recently they told me that jinah was wrong and very soon they will break pakistan.i mean you can see all the topics,all abuses lol.

Have you buried your head in the ground all the while...Indians on this forum have always been mocked about rape, religion, cow, toilets in literally every single thread. For example, look at the following thread where the topic was about Elephant poaching while one guy is mocking about Hindus and propagating hate
https://defence.pk/pdf/threads/zimb...i-for-2-7-million.618645/page-2#post-11462809

 

[Chanakyaa]

What is this obsession with Paypal? Pakistan has a lot of branch-less banking products; a simple search turns up at least 4.

Use Payoneer for freelance payments (you can get a debit card of sorts too for online payments).

Payoneer is NO Alternative to PayPal. Payoneer is for freelancers. PayPal is for Business.

 

[Zapper]

Really sad. Are they in India, Bangladesh etc ?

India has paypal but it's primarily used to obtain payments from abroad by freelancers. Recently, many Indians in the US have been using Xoom money transfer owner by Paypal for remittances. PayTM is India's primary retail payment app just like Alipay of China

 

[Death Professor]

Paypal isnt in BD. Their sister service Xoom is in service here. However I wonder what Paypal can do which my Payoneer cant do. Is this paypal payments are much more easy?

Well Xoom Service is available in Pakistan too, the original question was whether Paypal is available in India and Bangladesh, if so then why it is not in Pakistan. So my comments were just in chain reply of that. About Paypal, well it offers more services as compared to other options. It's usually embedded with in other sites like Ebay, Amazon, TwitchTv, etc. It depends really on how one wants to utilize his account whether it's only for receiving purposes or it's for buying proposes too. Between Paypal and Payoneer, paypal is extremely popular in west, so with that popularity there come certain advantages.

 

[Zulfiqar]

OK Let me just clarify the e-commerce and online payment scene here (for those who are abroad).

Majority of the banks here have visa enabled cards allowing you to purchase items from local online stores/POS machines e.t.c. Credit/Debit cards of majority of the banks can be used for purchasing items from abroad as well. They charge 5% plus WHT (in case of non-filing) on payment abroad but payments do go through. I just sent 200$ abroad a few days ago. Paypal will charge you similar if not higher.

Heck I even used my credit card to buy & deliver a gift (same day within hours) to my sister in UAE while sitting here in Pakistan.

If you have a bank account, you can easily transfer funds to another bank account in Pakistan via your bank's online banking app (if they have one, many banks now have one) or via Inter bank fund transfer feature in ATM.

You can also pay your personal loan installments/credit card dues by entering the repayment account number or your credit card number in your bank's mobile app or through ATM.

The first thing I do when I receive my salary is to transfer funds to three different banks to pay my loan dues e.t.c. The payment scene is not as bad as portrayed by others.

Then we have easy paisa and jazz cash type mobile wallets e.t.c. The chinese are already here via there investment in easypaisa (via AliPay). They also have a host of features and they keep adding more. All the major e-commerce stores have payment gateways that use either a bank or Jazz cash/Easy paisa e.t.c

It is just that many smaller stores actually prefer "cash on delivery" feature so that they can understate revenues and pay lower taxes.

There was a time (a decade plus ago) when I used payoneer to receive funds for my freelance work. It took a lot of time to process funds back then. The last gig I did was 2 years ago and I received funds in my account within 2-3 days from upwork after putting in my request. Yes, I lost some on exchange rate but I received the funds timely.

Foreign remittances can also be received in your account / mobile wallets.

China is working without paypal and they have a better scene than any other place in the world.

We don't need paypal because majority of our population can use chinese/local alternatives.

Expats and some section of the urban population may need paypal but majority of Pakistan's population has no requirement for it.

The only problem is that easy paisa/jazz cash type wallets need to innovate further which they can considering both are backed by large telecos.

For a population of 210 M we have 38.5 M mobile wallets. This is a significant amount if we leave the children out.

53% are inactive as the local shops in rural/sub-urban areas prefer cash.

We need to get the ball rolling by including more G2P and B2P payments. Once that is done then we will see an e-commerce scene similar to the chinese one.

 

[Enigma SIG]

Payoneer is NO Alternative to PayPal. Payoneer is for freelancers. PayPal is for Business.

While I have both; I prefer Payoneer to receive payments from "companies".

 

[Chanakyaa]

While I have both; I prefer Payoneer to receive payments from "companies".

How many companies and indivisuals actually pay using payoneer ?
PayPal Market share is Huge.

 

[Enigma SIG]

How many companies and indivisuals actually pay using payoneer ?
PayPal Market share is Huge.

I haven't disputed that. I said "my" preference. Emphasis "mine".

 

[xyxmt]

why would paypal come to a $250 billion economy