PayPal, Amazon and eBay Could Soon Launch in Pakistan: Anusha

Asma BalochLast Updated: Nov 27, 2015

Minister of State for Information Technology and Telecommunication said that e-commerce and e-payment facilities are significant for economic development. According to Associated Press of Pakistan (APP), Anusha Rahman said that an opening between e-commerce websites and financial institutions is important for Pakistan and assured the support of the IT ministry to the industry.

“The IT ministry will continue supporting and facilitating e-commerce and e-payment gateway in Pakistan.”

Said Anusha Rahman at a meeting of the Inter-Ministerial Committee for launching the e-payment gateway in Pakistan.

PayPal, Amazon and eBay Could Soon Launch in Pakistan: Anusha

Also Read: Growing E-Commerce: Pakistan to Have 40 Million Smartphones by the End of 2016

“E-commerce being a major component of economic development is a vital element of national economic policies across the globe.”

She continued.

It is up to the government to provide the circumstances in which such a gateway can work properly.

“For successful establishment of an e-commerce gateway, a comprehensive e-commerce policy, comprising guidelines, rules and regulations along with dispute resolution and remedial mechanism for consumers, is a must.”

Anusha Rahman called on all investors to work together in generating e-commerce environment in Pakistan. After the State Bank of Pakistan (SBP) Payment System Operators and Payment System Providers, Anusha believes that the Ministry of Commerce should work in collaboration with international companies such as PayPal and Alibaba.

She also stated that Pakistan now justifies anti-money laundering and counter-terrorist financing requirements set by the Financial Action Task Force (FATF). The country was first on the organization’s grey list, which disallowed international tech companies from investing in Pakistan.

Now that Pakistan is considered safe for business, international tech giants such as PayPal, Amazon and eBay will be asked to start working in Pakistan. The initiative is part of government struggle to guarantee that information technology is used to drive economic growth and help the population of Pakistan.

In Pakistan the rise of digital commerce depends greatly on rates of internet access, as well as partnership between mobile operators, e-payments companies and government departments. Telecoms companies have lately been capitalizing mostly in infrastructure which shows that by 2020 3G internet will be available to 90% of the population, and mobile broadband will extent to 40%.

While e-commerce seems ready to grow in Pakistan there is great possibility for government payments to be digitized. For this purpose the costs of delivery and rate of use of branchless banking need to become better. The GSMA suggests that fintech companies should collaborate with branchless banking operators to make products which target different parts of the population. With increased assistance there is a huge potential for growth in the industry in the country.

The evolution of digital business in Pakistan has been made probable by the enhancement of various aspects, with the security situation being one of the most important. The government of Pakistan by signifying to the FATF that the country is no longer a port for money launderers and terrorist fundraisers, has endorsed for a new era of growth. It will be a thrilling time for Pakistan as online payments have the potential to drive economic growth for a new compeers of financiers.

Also Read: Report: e-Commerce to Evolve at an Amazing Speed in Pakistan

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Asma BalochLast Updated: Nov 27, 2015