Why Pakistan government wants PayPal to operate in Pakistan?
Pakistan is the fourth largest freelancer fraternity globally. Payoneer estimates suggest that the Pakistani freelancer community brings the "much-needed" foreign exchange of $1b every year. Another estimate suggests that there are close to 250,000 freelancers, among them, 7000 small and medium-sized enterprises registered. Every individual and business need PayPal to operate in Pakistan as the majority of companies, USA-based in particular, pay through PayPal only.
Why most eCommerce platforms and websites prefer using PayPal:
Since PayPal is one of the most simple and easy ways to receive and send payments online, most of the companies and websites just prefer it for its simplicity and ease of use. PayPal has proven to be very flexible for both sender and receiver for many years. Then comes the time that is saved through PayPal transfers. In most cases, you will receive the money within 24 hours. Payments are absolutely safe for both parties as guaranteed by PayPal. On top of that, PayPal provides user protection and takes extreme care of sender and receiver's privacy. And finally, you can keep track and record very easily through this. It is because of this trust that PayPal has developed over a period of time, most e-commerce platforms, prefer PayPal as their trusted partner. According to another estimate, using PayPal as the gateway of payment, Pakistani Freelancers and e-commerce websites have the potential to raise their income three to four-time instantly.
Frequently Asked Questions:
- How can I use PayPal in Pakistan?
- How can I receive Payment in Pakistan through PayPal?
- Is PayPal banned by Pakistan Government?
- When is PayPal coming to Pakistan? How can I make PayPal work in Pakistan?
In the article below, I will try to answer all the questions and will tell you a simple way how you can receive payment through PayPal, even though it doesn't operate in Pakistan.
PayPal Signup:
The signup process is easy and simple. I will try to write it in easy steps for convenience.
- Open PayPal website. Click to Signup for free.
- You need to have a genuine email account that can be verified.
- You have to give the genuine address of any country where PayPal is operating (most of us have our relatives living abroad, we can have their address).
- Once you are finished, it will ask you to verify your email; which you will do easily.
- There is an option given by PayPal to open a business account or individual, so some people who want to use it for commercial purposes may sign up for a business account.
Up to this point, we have completed half the procedure. The next procedure is to make:"Payoneer Account".
What is a Payoneer account? How to make a Payoneer account? Does Payoneer work in Pakistan?
If you have any desire to get Payment from global clients in Pakistan, then you should need to make a Payoneer Account. Payoneer is being acknowledged in 200 countries, making it broadly accepted. Here is a stepwise procedure on How to make a Payoneer account.
- Open Payoneer website.
- Click to Sign up.
- You have to give a valid email that can be verified later.
- You have to give a valid mobile number, which can be verified later.
- Then you have to fill the usual personal information form with your name, city, zip code and country name. After signup is complete, we are 75% done with our procedure.
What is Payoneer Card and How to apply for a Payoneer Card?
- Payoneer will ask you to enter a valid bank account under your name.
- Enter your bank details like account number, IBAN, and swift code.
- You need to enter a valid CNIC as well to get yourself registered.
- Finally, click on "order" and your Payoneer card is applied.
Wait, we are not done yet. It will get a few working days to get your card approved and once it is approved, it will take up to one month to reach you after shipping.
How to activate your Payoneer Card?
Once you have received your Payoneer card, you have to activate it. It's very simple and straightforward. Just log in to your Payoneer account, click activate your card, and you are done. This Payoneer card is as good as a Visa Card or Master Card. You can withdraw money from any bank in Pakistan which provides this facility. I will give a list of banks at the end of the article which can be accessed for payment withdrawal.
How to link a Payoneer card with a PayPal account?
We are approaching the final step of our procedure. If you open a PayPal account, it is still unverified. Basically, the PayPal algorithm needs an account in the USA to be linked with it and our Payoneer account will fulfill their requirement, just like a US account. Payoneer is a legitimate way to send and receive funds through PayPal.
I will again tell you in easy steps how you can link your PayPal account with your bank account.
- Log in to your PayPal account through your email.
- You will see an Option "link a bank account".
- Obviously, your bank is not available in the list of banks provided, so you link your Payoneer account here.
- It will ask you to enter your "routing number" and US "virtual account number".
- Simultaneously, you need to log in to your Payoneer account and activate the "US payment service".
- Provide the required information on the PayPal website from the Payoneer account.
- The next step is to click on "receive money".
You will receive a few dollars as testing of account service from PayPal, which you will return to PayPal to complete the sending and receiving procedure from both ends.
Your PayPal account will be verified, and you can use it, as you can use it sitting in any country worldwide where PayPal operates.
Thousands of freelancers are using this procedure to receive money from international clients. It's a little hectic, but 100% legal.
Which banks in Pakistan accept Payoneer Master or Visa cards?
So far Standard Chartered Bank and Muslim Commercial Bank are accepting Payoneer cards and the list is expanding rapidly.
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