PayPal has received reports that Pakistan would ask it to start working in the country along with Amazon and eBay as Pakistan will invite them too. PayPal is of the view that it perceives Pakistan as a market with prodigious opportunity.
PayPal Perceives Pakistan as a Market with Great Opportunity
“As a global payments company, PayPal is constantly innovating and looking for new ways to meet the needs of our customers around the world.”
A PayPal spokesperson informed ValueWalk.
“As we look at expanding our global footprint, we see Pakistan as a market with great opportunity, but we are not able to comment on future plans.”
Minister of IT and Telecommunication Anusha Rehman earlier this week said that Pakistan was going to ask international technology companies like Amazon, eBay and PayPal to start maneuvers in Pakistan. It is anticipated that the latest addition of Pakistan in Financial Action Task Force’s (FATF) white-list, will encourage technology companies to reconnoiter Pakistan as a workable market.
Though authorities did not see inclusion in FATF’s white-list as an adequate situation for tech companies to consider Pakistan for investment.
“Theoretically, bringing Paypal, Amazon and eBay will significantly boost the e-commerce space.”
Karachi Institute of Technology and Entrepreneurship (KITE) Founder and President Afaque Riaz Ahmed says.
“But for that to happen, the government would need to have the necessary legal and financial regulatory framework in place.”
A latest report by GSMA revealed that there was significant potential for growth in Pakistan’s digital economy, but there are also substantial challenges like low digital literacy, feeble regulatory and authorized structures, and a lack of awareness about digital commerce. Awareness should be given about digital commerce and how to access it.