Pakistan to pave way for Paypal, Stripe, Wise

September 01, 2023 (MLN): In order to enable freelancers and e-commerce companies to easily get paid, Umar Saif Caretaker Federal Minister of IT & Telecom, and Science & Technology discussed the proposal of bringing PayPal, Stripe and Wise to Pakistan with the State Bank of Pakistan (SBP) on Friday.

"Very productive meeting with the wonderful team at the State Bank. Full steam ahead on three important initiatives," Umar Saif informed through a post on X formerly Twitter.

During the meeting, dollar retention accounts and corporate debit cards for IT companies, to enable IT companies to retain and spend their dollars easily were also discussed.

In addition, accelerate the next stage of RAAST merchant payments (P2M), with the request-to-pay facility. Everyone will be able to easily pay digitally by scanning a QR code at a shop was also included in the agenda. 

This is the crucial step for digitising the economy and supercharging the FinTech revolution, he added.

Very productive meering with the wonderful team at the State Bank. Full steam ahead on three important initiatives:

1. Bring PayPal/Stripe/Wise to Pakistan, to enable freelancers and e-commerce companies to easily get paid.

2. Dollar retention accounts and corporate debit cards… pic.twitter.com/Ejpp7X2mSi

— Umar Saif (@umarsaif) September 1, 2023

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