There are many of you who work and maintains all the expenses of your family through online earning. There are some people who work for local clients and get payments through local money receiving systems like local banks and other payment services.
On the other hand, there are others who work freelancing and getting clients in an online international freelancing website like a fiver, up work and others.
The main problem occurs while receiving your payment is the payout method, and the article is also focused on one of the oldest and effective payment gateways.
What is PayPal?
It’s an American company that is operating and managing a worldwide online payment system for all those who prefer online money transfers.
The company was founded in December 1998, in California, United States. The current CEO of this Company is Daniel Schulman. The parent company of PayPal is eBay, which is an American multinational e-commerce corporation based in San Jose.
When is it coming to Pakistan?
The question is arising from a few months about its release in Pakistan. The current Federal Minister for Finance, Revenue, and Economic Affairs said in a statement back in the October 2018, that he has given four months of time to the IT ministry of Pakistan to convince PayPal to come to Pakistan.
If we talk about PayPal facilities in Pakistan, so there are more than 2 lac freelancers, who are earning more than $500 million.
All of them are still using non-banking informal channels to receive payments. It is also mentioned by the govt about its target of $10billion in IT exports by 202, and if this platform implements in Pakistan, there would be thousands of hurdles settle down in the meantime.
But, the question is still at the same point that when they will convince PayPal as the deadline is ending soon at the end of this month.
This needs to sort out as soon as possible because online shopping and other things are the future of this world, and if the government will play its part sincerely then it would be better for the economy of Pakistan.
But, there is also a confusion happening in the mind of the Pakistani citizen. Asad Umar in a show said that in the future Pakistani would have a payment platform so all the freelancers could easily do their businesses easily.
He didn’t mention the name of PayPal clearly but if there is another payment receiving method the govt introducing let’s pray about its security assurance too.