Asad Umar, Pakistani Finance Minister, showed his willingness to meet PayPal CEO, Dan Schulman, and convince him to start PayPal’s operations in Pakistan. Asad Umar mentioned that it would take two to three months to convince and to start PayPal operations.
PayPal, American based company, is the most favorite and reliable payment gateway all over the world. It eases online money transfers for IT professionals, ecommerce, freelancers and corporate firms. PayPal has 244 million active users. It has 18,700 employees all over the world and has US$40.774 billion assets.
If PayPal initiates it operations in Pakistan it would boost Pakistani economy and would revolutionize business transactions. It would also bring a positive indicator for those investors who want to invest in Pakistani market but are reluctant.
Talking to a news channel Chairman Punjab IT Board, Umar Saif, said
Pakistani freelancers earn 850 million to 1 billion dollars annually and then they transfer their earnings through non-banking transactions. If PayPal starts its operations in Pakistan this amount can gain exponential growth and would bring ease in e-commerce operations.
This was much awaited decision and is the need of the hour. Special thanks to current government which showed interest in this matter.
Let’s hope for the good, keep our fingers crossed and hope that PayPal would start its operations as soon as possible.
