Islamabad: The Pakistani caretaker government has announced a strategic agreement to facilitate Paypal remittances through a third-party channel, offering a vital financial avenue for freelancers in Pakistan. Launch ceremony set for January 11.
According to details, the caretaker Federal Minister for Information Technology and Telecommunication, Dr. Umar Saif, has announced that Pakistan has entered into an agreement with PayPal, a company operating a digital payment (online transactions) system worldwide. Under this agreement, PayPal will be utilized through a third-party to facilitate the channelization of digital funds transmission in Pakistan. Scheduled for formal inauguration on January 11, this innovative initiative enables the channelization of remittances through Paypal.
Addressing speculations about Paypal’s direct entry into Pakistan, Dr. Saif clarified that while Paypal itself won’t establish operations in the country, the agreement facilitates the flow of remittances through a third-party channel. This breakthrough provides freelancers with a crucial financial instrument, streamlining the process of receiving payments.
It is important to note that PayPal operates a digital payment system (online system) at the international level, allowing funds to be transferred online globally. PayPal is currently operating in 200 countries around the world.
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