International Payment methods coming to Pakistan: Here’s all that you need to know
The project strives towards a borderless experience for business and consumers alike.
The National Institutional Facilitation Technologies (NIFT) and Checkout.com have started their project to bring international payment methods to Pakistan, after signing a Memorandum of Understanding (MoU) last month.
The project was launched during the third meeting of the National e-Commerce Council (NeCC), chaired by The Adviser to The Prime Minister on Commerce & Investment, Abdul Razak Dawood, at the Ministry of Commerce on Thursday.
… modern payment solutions is a great sign for the promising e-Commerce industry in Pakistan and hopefully, it will also be a driver for export of services particularly the IT sector. 2/2 @ImranKhanPTI @aliya_hamza @PTIofficial @RadioPakistan @appcsocialmedia
— Abdul Razak Dawood (@razak_dawood) September 25, 2020
According to officials, the project’s implementation would enable both organizations to provide payment services via each other’s infrastructure and to follow commercial opportunities as a partnership.
The project strives towards a borderless experience for business and consumers alike, encouraging digital payments and settlements for exports and digital commerce over Pakistan, the officials said.
Meanwhile, during the meeting of NeCC, an MoU was also signed between the Chain Store Association of Pakistan and Pakistan Software Houses Association (P@SHA)to encourage the use of indigenous technology and connectivity of the SMEs.
… their retail and e-commerce operations. Pakistan has a lot of potential in E-Commerce and through NeCC, MOC has provided a platform to create linkages between the public and private sector to work together for resolving different issues and … 2/3
— Abdul Razak Dawood (@razak_dawood) September 24, 2020
The agenda items regarding the FBR included updates on cross-border e-commerce procedures (integration of e-commerce exports with WeBoC) and progress on the formulation of the return policy for e-commerce exports. The SECP gave a briefing regarding the facilitative registration mechanism introduced for the e-commerce sector.
Checkout.com is a worldwide payment provider that offers reliable payments in more than 150 currencies, in-country acquiring, robust fraud filters, and reporting – all accessed via a single point of integration.
They accept payments from all weighty international card schemes, including Union Pay, Visa, MasterCard, American Express, and popular alternative, local payment methods.
Checkout.com brings a combined offering of all the well-known international payment methods and wallets such as Google Pay, PayPal, AliPay, and Apple Pay, enabling the merchants to pay and run their businesses in Pakistan.
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