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Kakar Gives Go-Ahead to Bring PayPal, Stripe in Pakistan

Govt’s move for PayPal, in Pakistan fuels digital economy prospects.

This substantial change for bringing PayPal and Stripe in the IT landscape of Pakistan has been disclosed by Dr. Umar Saif, the interim government’s minister for information technology.

In order to support the freelance business, the government is planning to establish co-working facilities that are expressly designed for independent contractors.

Dr. Saif stressed that if current obstacles are successfully overcome, the IT sector has the potential to create up to $10 billion in exports during a crucial meeting with Caretaker Prime Minister Anwaarul Haq Kakar.

In order to emphasize the significance of a concerted effort, Prime Minister Kakar gave instructions to several government bodies, including finance, commerce, energy, the State Bank of Pakistan (SBP), and the Federal Board of Revenue (FBR), to engage in cooperative talks.

Aiming to increase IT exports by $5 billion, Dr. Saif also emphasized the crucial role that the IT sector plays in achieving economic stability.

He outlined plans for training 200,000 IT workers through business and academic partnerships.

This forward-thinking project highlights Pakistan’s dedication to maximizing its IT potential for economic development and progress.

PayPal Vs Stripe

For merchants, PayPal and Stripe both provide comparable services. Opening an account and starting to accept payments is simple.

Both businesses don’t require contracts, and you can leave at any time. The key distinction between PayPal and Stripe is that PayPal is more appropriate for newly established small enterprises.

It is simple to set up and doesn’t call for a high level of technological expertise. Companies who desire flexibility and the ability to do virtually every step of the online payment process will benefit more from using Stripe.

In 2023, we ranked Stripe and PayPal among the top 10 point-of-sale (POS) systems.

Both businesses provide payment processing terminals, with the more basic model costing $249. The card reader, on the other hand, is portable hardware that enables you to accept payment by swiping a credit card.

PayPal charges $29 for the initial card reader ($79 for each additional card reader), whereas Stripe charges $59 for the same.

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