Negotiations in Progress to Introduce PayPal and Stripe Services in Pakistan, Says IT Minister

Caretaker Federal Minister for Information Technology and Telecommunication, Dr. Umar Saif, announced ongoing discussions between the Pakistani government and payment giants PayPal and Stripe regarding their potential entry into the Pakistani market. 

Dr. Saif emphasized the necessity of bringing PayPal to Pakistan to support freelancers, proposing a model akin to Egypt where PayPal operates through a third-party service. The government has sought permission for Pakistani freelancers to repatriate their earnings to Pakistan through a one-way service and anticipates initiating discussions with PayPal within a week.

Additionally, talks with Stripe, a prominent payment processing platform, are in progress, facilitated by the Pakistani embassy in Singapore. Dr. Saif highlighted the potential benefits of Stripe’s services, including boosting the e-commerce industry and enabling Pakistani content creators to monetize their work. 

The discussions with both companies are expected to conclude within approximately two months, and Dr. Saif expressed optimism regarding a positive outcome, citing Pakistan’s strong business case for both PayPal and Stripe.