PayPal in Pakistan, its the question asked by almost every Pakistani who wants to earn money online. Its amazing that Paypal is providing its services in a countries like Bhutan, Chad, Honduras, Somalia, Maldives, Rwanda, Uganda, Yemen but not in Pakistan with 170 Million population and growing economy. Some says that its the Jewish lobby behind Paypal which don’t want Paypal to provide its services in Pakistan due to many reasons.
The problem is in a place where people think 5 times before using their credit card online – how can you expect them to give full authority to their bank accounts to a third party. Quite frankly, the level of trust among the masses in Pakistan hasn’t reached that level yet. Also, where is the accountability procedure in case of a fraudulent activity?
Additionally, more then 65% of our bank (branches) aren’t even Online nation-wide let alone Internationally. We make use of internal switches like 1Link and MNET and half of the bank aren’t even a signer of International switches like Maestro, Cirrus or VISA electron. The state of “credit cards” is so that you have to send a FAX to authorize an internet transaction 24-48 hours before in some banks — how can you imagine a split-second transaction that too via Direct Debit in such a scenario!
Consumers are way too insignificant in this case as compared to the assurances PayPal (and alike) requires from Government + banks to ensure that they will eventually (and promptly) get the money from consumers’ bank accounts.
PayPal requires proof of ID, proof of address, proof of telephone, proof of business (non-profit or otherwise) and proof of bank account — all of which can easily be forged in Pakistan. What is the use of a PayPal service where most of the account doesn’t even get approved by PayPal authority?
Maybe we do have the required laws – but somehow we might have failed in projecting it to the world as effectively as Yemen, Uganda or Rwanda has done.
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