PayPal and Stripe are expected to launch in Pakistan shortly. The launch of PayPal and Stripe in Pakistan is expected to have a significant impact on the country’s economy. The exact date of the launch has not yet been announced.
PayPal and Stripe, two big companies that help people and businesses make and receive payments online, are going to start working in Pakistan soon. This news was confirmed by the Caretaker IT Minister, Dr. Umar Saif. When he met with the Caretaker Prime Minister, Anwaarul Haq Kakar.
This is part of a bigger plan to help the IT industry in Pakistan grow and to increase the money earned from IT to $10 billion. In May 2023, Pakistan saw a big increase of about 24 percent in its IT exports. For the whole year of 2022, the total amount of IT exports was $2.6 billion.
PayPal is like a big piggy bank on the internet that lets you send and get money. Stripe is like a special tool that helps businesses take payments online. Even though these companies are famous in many countries, they haven’t been available in Pakistan before.
Vision Of The Minister
Dr. Umar Saif shared on the internet that Prime Minister Kakar liked and said yes to our plan for the Ministry of IT and Telecom. This plan is about bringing PayPal and Stripe to Pakistan and making shared places for 500,000 people who work on their own (like freelancers). We want them to earn even more money, about $3 billion extra each year.
The person who used to lead PITB also said that the temporary Prime Minister agreed to give special rewards for making and sending smartphones within Pakistan. They will also help people buy smartphones by making a way to pay for them bit by bit.
Dr. Saif also mentioned that they are getting ready to have an event where they sell rights to use 5G technology. They plan to do this within ten months. To make it work, they will share the special airwaves that carry signals, make the taxes fair, and make rules that help this happen smoothly.
When PayPal and Stripe started working in Pakistan. It’s going to have a really good effect on the country’s money system. Businesses will find it easier to take payments online. This means more people will buy and sell things on the internet. It will also be easier for people who work independently, like freelancers, to get paid through the internet.
We don’t know the exact day when PayPal and Stripe will start in Pakistan yet. But it’s likely to happen in the next few months.