PayPal, Stripe, Wise coming to Pakistan?

In order to enable freelancers and e-commerce companies to easily get paid, caretaker IT Minister Umar Saif expressed his resolve to bring “PayPal and Stripe to Pakistan”.

The IT minister discussed the proposal of bringing PayPal, Stripe and Wise to Pakistan with the State Bank of Pakistan (SBP) officials on Friday.

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.

“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.

• Bring PayPal/Stripe/Wise to Pakistan, to enable freelancers and e-commerce companies to easily get paid.
• Dollar retention accounts and corporate debit cards for IT companies, to enable IT companies to retain and spend their dollars easily.
• Accelerate next stage of RAAST merchant payments (P2M), with a request-to-pay facility

“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