Pakistan Celebrates as PayPal Joins Forces with Payoneer to Enhance Online Payment Solutions for Freelancers. The recent collaboration between PayPal, a prominent online payment system, and Payoneer, a leading digital payment service, brings exciting news for Pakistan’s freelance community. This strategic partnership aims to streamline and improve the process of receiving payments, marking a significant advancement for freelancers seeking greater convenience in accessing their earnings from international clients.
Opportunities for Freelancers’ Finances:
Thanks to this partnership, Payoneer will securely transfer money from freelancers’ international clients to their local bank accounts. However, some details, like the fees Payoneer might charge for this service, are not yet known, making freelancers curious. In Pakistan, there’s a growing number of freelance professionals, around 4 million, with about 1.5 million doing freelance work full-time. This trend, especially among tech-savvy young people with IT skills, is making freelancing a promising way for the country’s economic growth.
How the Government is Helping Freelancers:
The Ministry of Information Technology and Telecom plays a big role in making this change happen. They’ve agreed with PayPal to set up a strong system for this plan. The official announcement of how this will work is on January 11, 2024. This is a significant step to make financial transactions easier for freelancers.
In this plan, freelancers can have bank accounts in dollars. But, they need to keep 50% of the money they get in US dollars. This is an important change that freelancers in Pakistan have been asking for a long time.
Dr. Umar Saif’s Positive Outlook:
The Federal Minister for IT & Telecom, Dr Umar Saif, shared some great news in a video message. He talked about how Pakistani freelancers can now easily get paid through PayPal. He highlighted that freelancers don’t need their own PayPal accounts. Instead, clients from other countries can use their own PayPal accounts to send money, and freelancers can access it through their Pakistani banks.
This smart move by PayPal, working with Payoneer and supported by the Ministry of IT & Telecom, will greatly change things for freelancers in Pakistan. It makes getting paid and accessing the money easier. This will give a big boost to the freelance economy in the country. However, freelancers are getting more excited and looking forward to a new time of financial ease and empowerment as the announcement date gets closer.
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