Talks underway to bring PayPal, AliPay to Pakistan
Govt not impeding PayPal's entry into the Pakistani market, says Asad Umar
The PayPal app logo seen on a mobile phone in this illustration photo October 16, 2017. PHOTO: REUTERS
PESHAWAR:
Finance Minister Asad Umar rejected on Monday claims that the summary for approval of international payment through PayPal was being delayed.
"I have personally reached out to PayPal's CEO for providing this facility for payment on international dealings in Pakistan," he told media in Peshawar.
The finance minister reaffirmed that the government would roll out a quick workable system for international payments by Pakistanis.
Umar said that he was also working to bring another online payment system to the country.
Country loses $1.5b in absence of online payment systems
"After PayPal, the second in the world is AliPay, whose subsidiary is Ant Financial, which has acquired the majority shares of Telenor Bank. In my talks with them, they have assured me that among their first few projects [in the country] will be an online payment system,” he added.
Earlier this month, the State Bank of Pakistan said that Pakistan had failed to document straight money worth $1.5 billion due to unavailability of online payment systems such as PayPal in the country.
Finance Minister Asad Umar rejected on Monday claims that the summary for approval of international payment through PayPal was being delayed.
"I have personally reached out to PayPal's CEO for providing this facility for payment on international dealings in Pakistan," he told media in Peshawar.
The finance minister reaffirmed that the government would roll out a quick workable system for international payments by Pakistanis.
Umar said that he was also working to bring another online payment system to the country.
Country loses $1.5b in absence of online payment systems
"After PayPal, the second in the world is AliPay, whose subsidiary is Ant Financial, which has acquired the majority shares of Telenor Bank. In my talks with them, they have assured me that among their first few projects [in the country] will be an online payment system,” he added.
Earlier this month, the State Bank of Pakistan said that Pakistan had failed to document straight money worth $1.5 billion due to unavailability of online payment systems such as PayPal in the country.