Finance Minister Asad Umar on Monday said the government had not stopped PayPal from entering into the Pakistani market.
“PayPal is not stopped on my desk, the State Bank or in any other government institution. We are chasing PayPal,” Umar said during a news conference.
The finance minister stressed that he was aware of PayPal being an excellent source of income for Pakistani youngsters who work from home. “They face immense difficulties without PayPal or any effective online payment system.”
The Finance Minister claimed that he is well aware that PayPal presents a great opportunity for Pakistan and it is an excellent source of income for local youngsters who work from home. “They face immense difficulties without PayPal or any effective online payment system,” said Asad Umar.
He further added:
I have taken the initiative myself and sent a message to PayPal CEO that this was important and I was willing to fly to America to hold a meeting.
Lastly, Asad talked about AliPay which is a part of Alibaba. He said that its subsidiary, Ant Financial, has bought majority stakes in Telenor Bank which should be helpful in improving the digital banking market in Pakistan.