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.

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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.

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The State Bank of Pakistan (SBP) has reportedly given the go-ahead for the establishment of an international payment gateway to monitor remittances through the National Information Technology Board (NITB), sources familiar with the matter told ProPakistani.
This information has been shared with the federal cabinet in a recent meeting when the performance of The NITB came under discussion.
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A query was raised on the status of two projects, namely, Anti-Money Laundering and International Payment Gateway. It was explained that the International Payment Gateway was delayed as State Bank of Pakistan had not provided the compliance matrix.
However, the go-ahead from The SBP has now been received, and, accordingly, the work on the project has been initiated. It was, however, acknowledged that The NITB has contributed to NCOC work on creating databases and digitization of NGOs registration at EAD.
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The Chief Executive Officer of The National Information Technology Board (NITB) gave a presentation to the Cabinet on the performance of the organization. He stated that a couple of Ordinances regarding revamping of the NITB Charter and data nervous system have lapsed whereas some other legislation is stuck at different levels.

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.

What is an E-Payment System?

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.

What are your views on this? Share with us in the comments below.

  • Kya hamara foriegn clients ka pas es bank ma account hoga?? Jis ka through wo humain paisa transfer krai ga…Chuti soch ka malik paypal jaisi app…hahahaha…Paypal all over globe chlti ha ya kidr chala gi??

    • It will work like payoneer and stripe. Not exactly as paypal. They will provide card and using that card you can spend online. Same way people will be able to send you money using their bank or card.

    • Chohti soch he aysi comments kerty hain
      PayPal don’t said account mandatory
      App without account gateway use ker k payment ker sakty hain
      Tanqeed met kero
      Apni koshsh add kero

  • koyee faida nahee hoga limit $100-$200 ho gee per day per month $1000 aur har doosray banday ka account block ker diya karein gay….

  • It is not possible to consider as an alternate of paypal.
    Whereas the international user didn’t trust their to make an account on it.

  • Why not Pakistan introduce alipay? A local payment system is necessary, so SBP can monitor payments flows and get rid of private online payment / fund transfer through mobile phone companies or eassy pasa.

  • First Pakistan should have local reliable..swift payment system..while we are using so many mobiles companies..Easypaisa like local money transfer systems..Any new on line payment system will be wellcome..

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