Pakistan is now entered successfully in the phase of inviting international payment channels to operate in Pakistan. New GSMS study also emphasizes the importance of digital commerce, access, and payments for growth in Pakistan. The Minister for State for Information Technology & Telecom Anusha Rehman while addressing at the conference “Digital Societies Making Commerce Smarter” and “GSMA Asia & Cellular Mobile Operators of Pakistan” organized by GSMA and Mobilink in Islamabad said that government has finalized all regulatory requirements that for the operations of global tech and payment companies in Pakistan.
Speaking at the event, Anusha Rehman stated, “The IT ministry will continue supporting and facilitating e-commerce and e-payment gateway in Pakistan,” said Rahman during a meeting of the Inter-Ministerial Committee for establishing the e-payment gateway in Pakistan. “E-commerce being a major component of economic development is a vital element of national economic policies across the globe.”
State Minister for IT also passed the good news to the audience that soon Pakistan is going to invite giant tech companies including PayPal, Amazon, EBay and others to establish their setups in Pakistan.
Pakistan that was first listed into the grey-list of FATF (Financial Action Task Force) is now listed in white-list that means Pakistan has become eligible for the international means of payment and accepted as anti-money laundering and counter-terrorist financing standard in place which were previously not available, said by the IT Minister.
For a better operation of PayPal, Amazon, EBay and other giant tech companies and financial services, Ministry of Commerce, Ministry of IT and State bank of Pakistan are working jointly to formulate a framework for this segment.
If talk about the e-commerce potential in Pakistan then online shopping and commencing trends are increasing in Pakistan. By the end of 2017, it could touch the figure of $600 million.
The conference was also attended by the Pakistan Telecommunication Authority CEO DR. Ismail Shah, Deputy CEO Mobilink Amir Ibrahim, and professional and experienced of telecom (including Zong, Ufone, Telenor & Warid) and IT industry.
he recent research of GSMA also emphasized the need of building digital sector of Pakistan. According to GSMA report on ‘Building Digital Societies in Asia: marketing Commerce Smarter’, Pakistan is now at a stage where it requires a full-fledged digital commerce system, cooperation among mobile operators for financial purposes and support of government agencies.
Commenting over the digital sector in Pakistan, GSMA Head of Asia Alasdair Grant said, Mobile operators have been investing heavily to ensure access to the internet in Pakistan and will continue to do so. By 2020, 3G coverage is expected to reach 90 percent of the country’s population, and mobile broadband is expected to reach 40 percent. With connectivity becoming less of an issue, the challenge now lies in increasing the number of digital commerce accounts and promoting digital payments in order to realize the full potential of digital commerce in Pakistan.”
Branchless banking is increasing gradually in Pakistan. However, still the many adult mobile users are unaware of the mobile banking. The launch of Meezan UPaisa and Straighr2Bank Wallet scheme by Easypaisa and Chartered Bank are indicating that foundations for digital commerce are in place in Pakistan and it is set to grow even more rapidly in the coming years. However, for successful establishment of e-commerce gateway, it is important to framework a comprehensive e-commerce policy and favorable regulations.
New GSMA Study Emphasises Importance Of Digital Commerce, Access and Payments For Growth In Pakistan https://t.co/ofVV8sQXN2
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