Fawad Chaudhry, Federal Minister of Information and Technology mentioned this Wednesday that soon ministry is opening its own e-payment gateway in Pakistan.
Maroof Afzal, ex minister of information technology said on May 16th 2019, “US based financial service company named as PayPal will not be operating in Pakistan”.
Paypal is a providing financial service company used by people and businesses to make payments. Since Pakistani citizens can’t avail the services provided by of PayPal.
Fawad Chaudhry explained how Pakistan is developing its own e-payment gateway that would support in recording the country’s wealth.
He added that the test launch was unsettled due to unfinished back-end work, we will need help from China in order to launch it immediately.
This news is especially appealing because of the flexibility provides in terms of payment transactions, and how the government defaulted on the claim that they will begin PayPal operations in Pakistan.
E-commerce industry is in early stages in Pakistan. It needs a strong online payment system for successful launching in Pakistan. Debit and credit cards will be replaced by online e-payment system in Pakistan which is easier and rapid processing of transaction especially for businesses man.
It will open paths for a digital payment in Pakistan, providing better economy through e-payment system and providing opportunities in IT sector.