PayPal and Stripe are in talks with the Pakistani government to bring their services to the country. This was confirmed by the caretaker Federal Minister for Information Technology and Telecommunication Dr Umar Saif on September 26, 2023.
Dr Saif said that the government is actively engaged in discussions with both companies and that talks are expected to conclude in around two months. He expressed hope that the outcome will be positive, as Pakistan has a strong business case for both companies.
The arrival of PayPal and Stripe in Pakistan would be a major boost for the country’s economy, particularly for the IT sector and the e-commerce industry. It would make it easier for Pakistani businesses and freelancers to receive payments from international clients and customers. It would also make it easier for Pakistani consumers to shop online and pay for goods and services from overseas retailers.
The government of Pakistan is eager to bring PayPal and Stripe to the country as part of its efforts to promote the IT sector and boost exports. The government has also announced a number of other initiatives to support the IT sector, such as the launch of a government-backed Pakistan Venture Capital Fund and the creation of co-working spaces for independent contractors.
I am excited to see how the talks between the Pakistani government and PayPal and Stripe progress. I am hopeful that the arrival of these companies in Pakistan will have a positive impact on the country’s economy and help to create new opportunities for businesses and freelancers.