New international payment system like PayPal to launch in Pakistan next month
This information has been shared with the federal cabinet in a recent meeting when the performance of The NITB came under discussion.
In a recent development, the Pakistani government claims to work on introducing an international service of payment transfer, similar to PayPal in Pakistan, on an emergency basis.
PayPal is a well-known online payment platform that has been requested a number of times in Pakistan.
It’s mainly useful for freelancers who work for international companies and get payment from entities overseas without any currency transfer hassle. Another use is to make payments to online advertising platforms or to buy digital services.
Sources in the Ministry of IT say, President Dr. Arif Alvi has given a one-month deadline to the Ministry of IT and relevant departments to introduce an international payment system like PayPal in Pakistan.
According to a senior IT ministry official, tenders will be opened in the next few days for an agreement with international companies for the new payment system and after the agreement, Pakistani consumers will be able to use other international payment options, including PayPal.
With the approval of the International Payment Gateway, Pakistanis will be able to send money around the world at a lower rate and also receive money from abroad for their products and services.
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