How To Create PayPal Account In Pakistan (Verified With Proof) 2021
Have you been looking for “How To Create PayPal Account In Pakistan” for a long time? But so far you could not find any perfect solution because it’s a very difficult procedure to create PayPal account in Pakistan.
But now don’t you worry because I am here to help you and I will tell you “How To Make PayPal Account In Pakistan” with easy step-by-step guide and proof.
So, If you want to know How To Make PayPal Account In Pakistan 2020?, Make sure that you must read the whole article with full attention.
Because creating a PayPal account in Pakistan is a bit tricky, So if you miss any step you will not be able to create an account or even if it is created it will not be verified.
What Is PayPal?
PayPal is an American based company that provides an online payment system worldwide. PayPal offers us to send and receive money online worldwide.
PayPal charges a fee for their services such as one-click transactions, secure transactions, and password protection.
PayPal is one of the most trusted, secure and fastest ways to send and receive money online all over the world.
PayPal provides their services around 202 markets and it has more than 286 million active users and registered accounts.
If you have a verified PayPal, you can send and receive payments in 25 different currencies worldwide.
PayPal was founded in December 1998 by Max Levchin as Confinity. In March 2000 Confinity Software was merged with X.com and which later changed their name to PayPal in 2001.
You can use your PayPal account on your smartphone. PayPal app is available both in android play store and app store for IOS devices.
Why PayPal Refusing Pakistan?
The biggest concern for the company from the Pakistani market is of money laundering. During the past few years, money laundering in Pakistan has increased exponentially and global organisations have expressed concerns over this issue.
In fact, the Financial Action Task Force (FATF) has given Pakistan an ultimatum and placed it on the grey list, mainly due to widespread money laundering in the country.
PayPal officials fear that the platform would ultimately be used to launder money, which is obviously against the company’s policy. The Senate Standing Committee on IT, during which it was revealed that PayPal won’t be coming to Pakistan, also noted that just a single case of money laundering could cause significant problems for PayPal.
Almost all financial platforms here, including Bitcoin, are accused of facilitating money laundering, which is why PayPal is playing it safe and protecting its reputation by avoiding entering Pakistan.
This Information Collected From Tribune.
What did PayPal lose by banning Pakistan?
In 2019, an American company that stayed in limelight in Pakistan and that was PayPal. PayPal declined the Pakistani Government offer to initiate it’s services in Pakistan.
Now the question is what losses has PayPal incurred by banning Pakistan?
Pakistan is the 4th largest freelance community in the world. According to Payoneer survey, Pakistani freelance community brings about one billion of dollars to Pakistan via other online payment sources.
According to another estimate, Pakistan has around 200,000+ freelancers and over 7,000+ registered SMEs (small and medium).
If we look at stats we will see that a lot of Pakistani people can use the services of PayPal and if PayPal had brought Pakistan, it could have made a huge profit.
Why We Need PayPal?
Nowadays the era is very advanced and a lot of people do freelancing or online business. So for online business purposes, we need some kind of online payment system in which we can receive and send our payments and PayPal is one of the most popular online payment system.
There are many companies offering these services but if you want to buy anything online internationally then you only have these options.
Credit Card
Debit Card
PayPal
In addition, there are many companies in the online business that pay only via PayPal.
That’s why we need a PayPal account, otherwise there are many other services available for sending and receiving money.
More Benefits Of PayPal
PayPal is a very fast and simple way to send and receive money all over the world and buy anything online.
You may have noticed that many online stores have the option to pay with PayPal. There are also several benefits of PayPal and some of it is mentioned below:
Flexibility for Sellers
PayPal allows sellers to accept payments from buyers quickly and easily.Instant Payment
PayPal allows its members to make an quickly and instant transfer of money. PayPal members can transfer payment from PayPal accounts to bank accounts in less than a day.Affordability
PayPal transaction fee is also very low and affordable for many people. The fee to use PayPal is only 30 cents per transaction, plus 3% FED on the total amount of the transaction.Safe Buying
PayPal offer guarantees to their buyers and sellers as well. They have a process for making controversial transactions, So buyer wont have to worry if they did not get what they have ordered.Account Privacy
PayPal gives their users protection and provides a much more better level of account protection with Two Factor Authentication as compared to competitors.Ease of Record Statements
PayPal members can easily keep and track all of their transactions date wise history.Acceptance Online
As I said above, most e-Commerce and online sale purchase website uses PayPal as their payment method. So members of PayPal can easily buy anything on these websites.