There are talks going on about PayPal entry in Pakistan. According to news reports, there is a chance that the government will invite the US-based financial services and online money-transfer company in Pakistan.
While briefing the Senate Standing committee on Information Technology and Telecommunication, Chief Executive Officer (CEO) Ignite Yusuf Hussain has requested that Prime Minister Imran Khan and Advisor on Finance to talk to the PayPal’s CEO and invite them to Pakistan.
According to the committee, Pakistan is losing huge on its foreign exchange reserves due to lack of an online money transfer system.
Assurance was given by the Pakistan Tehreek-e-Insaf (PTI) Senator Faisal Javed that the Prime Minister and the Advisor on Finance will be asked to bring PayPal in Pakistan.
Earlier it was reported that PayPal has decided not to come to Pakistan as there was no legal backing and due to the money laundering cases in the country.
According to CEO Ignite, the company focuses on the fourth industrial wave tech and on ecosystem development initiatives. It aims to fulfill its mission of developing a knowledge economy in the country.