Updates regarding Paypal in Pakistan


#1

Its old news for those on TGP but I reckon not all here are members there. ;)

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Talk of PayPal entering Pakistan got buzzed up in previous 2 days, especially after some professionals got involved in discussion on TGP.

As always, Fouad Bajwa was amongst the campaigners, who announced that Mr. Ibrahim Qureshi (Director Raffles Pvt. Ltd) has promised to voice the need of PayPal in Pakistan during Obama’s presidential summit.

Discussion caught further attention when a member revealed that Paypal’s advance team recently visited Pakistan. He further said that PayPal is already engaged with local lawyers and other related institutes to start building their infrastructure to offer Paypal services in Pakistan.

This looked quite fascinating and importantly it made sense, particularly, after a recent announcement by PayPal to aggressively campaign in Asia (to be number one in region like they are in Europe and America) with an evident focus towards the mobile commerce along with traditional e-commerce services.

For the purpose, PayPal announced last month to double its employees from 1000 to over 2000 this year, with 100 new jobs alone for Singapore, company’s regional headquarter.

Though, PayPal has officially not authorized all this. Anuj Nayar, Director, Global Communications at PayPal in a communication with ProPakistani accepted that like always, PayPal is looking at ways to grow the business in Asia. However, he said that he has nothing in hands to announce about PayPal’s specific plans for Pakistan market.

A source at PayPal, who wanted to remain unnamed, told ProPakistani that Pakistan has some serious issues relating to its ecommerce infrastructure, payment gateways, which make it impossible for PayPal to step in to Pakistan. He said, PayPal’s usual feature of linking an email with customers’ bank account will never be possible in given banking infrastructure of Pakistan.

He admitted that PayPal has studied Pakistan, and recognizes the potential, however, stated problem is not in hands of PayPal.

In his opinion, PayPal may start operations while accepting limited banks, probably starting with Citibank (which has payment gateway), and then rolling out solution for other banks of the country.

Regulatory issues with State Bank of Pakistan are considered as hurdles too, but as stated earlier, there is no question of arguing over regulations when there is no infrastructure in place.

This is where our local banks and of course the government has to play some role. Payment gateways are a must have thing. We had reports of PTA working on it, but nothing concrete could be said on it, as of now.

So as a crux, one can safely say that its not PayPal who is not coming in Pakistan, its our banks who are not well equipped.

On a side note, as PayPal has plans to offer mobile banking solutions in the region, companies like EasyPaisa can come in, and join hands with PayPal (given that their banking partner– Tameer Bank, starts offering electronic payment solution).

But only time will tell that EasyPaisa and PayPal will work in hands or will become rivals.

Link

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#2

This is a really great news and I wish it happens very soon.


#3

I was reading the comments there and one person said:

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What ecommerce infrastructure does a country like Somalia have which we don’t have? (Since Somalia is on PayPal!)
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I think it's a valid question. So does that mean Somalia is ahead of Pakistan in terms of e-banking or infrastructure to support Paypal!? Is this really so!?


#4

What is TGP, although this is awesome news.


#5

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Its old news for those on TGP but I reckon not all here are members there. ;)
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TGP?


#6

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What is TGP, although this is awesome news.
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Telecom Grid Pakistan

http://groups.google.com/group/telecom-grid-pakistan


#7

See Techman's post for link to TGP.

It might take more than an year but it will get here provided that the Zardari and his sycophantic stooges don't ask Paypal for too much "hissa".

I would be very glad if I could use Paypal without violating their terms and conditions from Pakistan. I would save hundreds of dollars in bank fees (*) I otherwise have to pay in the name of bank transfer charges (TT/wire).

* - Provided SBP doesn't throws its legs into transactions via Paypal.


#8

that's a great news...

I guess Ebanking is becoming pretty common in pakistan..So Paypal, you are in demand in Pakistan..So please come soon!


#9

waiting anxiously for paypal to start offering services in Pakistan....


#10

Pakistani banking system is very strange and bad , i was there at UBL to open a new bank account , they wanted to see my income proof prior , i told them about freelancing , google adsense , clickbank etc etc are my sources of income they said sorry they need some documented income proofs :( now i have to do some kinda job to have a bank account ?


#11

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Pakistani banking system is very strange and bad , i was there at UBL to open a new bank account , they wanted to see my income proof prior , i told them about freelancing , google adsense , clickbank etc etc are my sources of income they said sorry they need some documented income proofs :( now i have to do some kinda job to have a bank account ?
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no. anyone can start bank account… but not credit card


#12

Yeah Asad's post makes no sense. Paypal itself is a payment gateway so why does it need banks to build their own gateway? If banks were to build there own payment gateway there would be no need for paypal!

Infact paypal is exists today primarily because banks in the US made the very big mistake of not taking advantage of the Internet and creating their own online payment system. Paypal took advantage of their folly.

Looks like this is just another one of those rumours.

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Xain is right about the income proof requirements. 5-6 years back there was no such requirement. But now you have to prove your source of income just to open a bank account! Its a State Bank of Pakistan (central bank of Pakistan) rule to prevent money laundering. Probably put into place at the behest of the USA.

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#13

^ State Bank is involved for the purpose of regulation of provision of Paypal services in the country since Paypal interacts directly with local bank accounts on behalf of its users. Why do you think the state bank in India threw a spanner into Paypal's operation in India just a few weeks back?


#14

I can't believe that propakistani news... seriously..... The content just shows the mixture of the talks we had even on WP. Just try to remind that.

Not even a single of the links(he provided) shows me any indication about the PayPal progress heading towards Pakistan. there are only the requests made by some interested Pakistani users.

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Though, PayPal has officially not authorized all this. Anuj Nayar, Director, Global Communications at PayPal in a communication with ProPakistani accepted that like always, PayPal is looking at ways to grow the business in Asia.
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Where is communication detail?

Do you guys really think if ProPakistani did really have any communications with PayPal, he would not post it in detail? who posts each end every bit of small news in detail.....

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A source at PayPal, who wanted to remain unnamed, told ProPakistani that Pakistan has some serious issues relating to its ecommerce infrastructure, payment gateways, which make it impossible for PayPal to step in to Pakistan. He said, PayPal’s usual feature of linking an email with customers’ bank account will never be possible in given banking infrastructure of Pakistan.
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Another piece of talks we have had on WP all the time....

And PayPal would be interested in affiliation with EasyPaisa like services..... is not more than a joke to me.... really...

I am sorry ProPakistani... I need a good authenticated source of your news.....

Any ways I had visited that article on Friday Morning, but didn't give it damn.


#15

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Pakistani banking system is very strange and bad , i was there at UBL to open a new bank account , they wanted to see my income proof prior , i told them about freelancing , google adsense , clickbank etc etc are my sources of income they said sorry they need some documented income proofs :( now i have to do some kinda job to have a bank account ?
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Yea this proof of income thing is BS…I work for a pretty small IT company and the last time I tried to open an account I had to go through a freaking interrogation…they just kept asking for more and more proof…I just gave up at the end…


#16

Our local bank system really sucks. Every time I withdraw money from moneybookers. They take 3 working days and when It comes to my local bank, They call me and say sir you have recived payment of 100$ from UK can you come to the bank and explain why they have sent you the money, why they sont send me or any of my family member. Please come to us and sign a document, Trsut me every time I want to withdraw money they ask me the same question beside teh fact the documents I sign clearly says " sign these documents if you recive remitence above 500$


#17

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I was reading the comments there and one person said:

I think it’s a valid question. So does that mean Somalia is ahead of Pakistan in terms of e-banking or infrastructure to support Paypal!? Is this really so!?

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Perhaps PayPal earns a lot from the Somalian Pirates :)


#18

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#19

#20

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Perhaps PayPal earns a lot from the Somalian Pirates :)

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Perhaps their state bank is corrupt while ours isn’t ;) . The problem lies usually in state bank regulations, really.