Dr. Umar Saif, the interim federal minister for information technology and telecommunication, stated on Tuesday that the government is in discussions with Stripe and PayPal about providing services in the nation.
Speaking to journalists in Islamabad, the minister emphasized the need of bringing PayPal to Pakistan in order to assist independent contractors. According to him, the government plans to persuade PayPal to sell services through a third party in Pakistan in a manner similar to how PayPal does so in Egypt.
According to him, PayPal has been asked by the government to permit Pakistani independent contractors to send money home through a one-way service. He stated that discussions with PayPal on this will start in a week.
The IT minister also stated that discussions with Stripe, another platform for accepting payments, are also in progress. The Pakistani embassy in Singapore is conducting the discussions with Stripe.
According to Dr. Saif, if Stripe launches its services in Pakistan, it would allow the local e-commerce sector and content creators there to monetise their work.
According to the minister, negotiations with both firms would be finished in about two months. He expressed optimism for a successful end given that Pakistan has a compelling commercial case for both enterprises.