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Sunday, February 18, 2024

Is PayPal really coming to Pakistan?

PayPal is a highly popular online payment platform that makes it incredibly easy to send money overseas. The American company was founded back in 1998 and it operates in several major countries across the globe, but not in Pakistan. The absence of PayPal in Pakistan has always been denounced by local freelancers, but now the topic is gaining attention yet again.

Well, it’s speculation as of now that PayPal is really coming back in Pakistan but let’s learn first how is it possible on first, and if PayPal is really coming what are regulations saying about this. The Shahbaz government has offered an American company “Paypal” which operates an online payment system to start the operation in Pakistan.
Pakistan is one of the biggest markets after India in freelancing. The payment method usually the company and the individual clients suggest is “Paypal”, as Paypal is not in Pakistan so the freelancers that are working in the industry lose clients and jobs because Pakistan is not on their operation list.

Understanding the matter better

To be honest, it’s not possible for Paypal to come now because of the economic crisis, and Pakistan is not economically strong. Pakistan is also on the FATF grey list and for Paypal to start the operation in Pakistan, the name of Pakistan should be out from the grey list first.
Earlier, the demands of the Paypal company were the security of the Paypal company i.e the fund security and the money laundering policies which needed to be made by the Government of Pakistan. The other reason for Paypal not coming to Pakistan soon is “Money Laundering”. As per the sources in the Paypal company, the government should work hard to stop money laundering first.
The current government does not come from the votes of the public so there is no future for this government. After the elections, it will decide who will rule Pakistan and how they make policies to protect the interest of Paypal in Pakistan. Till then there is no chance of Paypal coming back to Pakistan.
DJ Kamal Mustafa is a DJ, Music Producer, Pakistani Film Maker & Journalist. The views expressed in this article are the author’s own and do not necessarily reflect the editorial policy of Global Village Space