PayPal is an e-commerce business allowing payments and money transfers to be made through the Internet. PayPal serves as an electronic alternative to traditional paper methods such as checks and money orders.
Reasons Why PayPal Is Not Authorized In Pakistan
PAYPAL which operates nearly in all countries even in many small economies till now doesn’t operate in Pakistan. The reasons for which PAYPAL is inactive in Pakistan are:
Regulations of State Bank
Certain rules and regulations laid by State Bank are unimaginable which made it tough for PayPal to land in Pakistan even though it tried to sort out things with Ministry of IT, Pakistan but things didn’t favored PayPal. The bureaucracy put little commitment to get things done right.
High Internet Fraud Ratio
Pakistan stands high on the Internet High Fraud Ratio that is main reason for PayPal to withdraw their services in spite of being having a registered domain paypal.pk specifically for Pakistan.
Local Pakistani laws
The indifferences between the PayPal organizations policies and some of the laws of Pakistani government don’t meet end to end. Neither of them agrees to take a step down and merge down as one to continue.
High raised rumor
A very popular rumor which pretends people of Pakistan to force it’s government to bend down or which can shake the PayPal office so that it can start its operations in the country is that people here believe that PayPal is a registered company and Israel and Pakistan cannot agree upon the Identity of Israel but in reality PayPal is a US based firm currently owned by eBay
Credit card fraud ratio/Suspicious credit cards
As the PayPal suggests, demands you to collaborate your credit card details with the PayPal account for smooth operations, the credit card fraud ratio is a bit high in the country.
Until now Visa is not fully operational in Pakistan. The Visa Inc. has launched Visa Debit Card through UBL Bank as late as in November 2008, which is the first prepaid visa debit card in Pakistan.
Terrorism related Issues
PayPal is a complex system of eTransactions and companies like PayPal needs a very stable environment at least if not stable then just “acceptable” environment which one does not see unfortunately in Pakistan now.
Hacking and cracking
Ethical hacking and cracking practices are high in Pakistan and when the PayPal registered it’s domain for Pakistan i.e. in 2006 the practice was at its best in Asian countries including Pakistan. The PayPal cannot keep on repaying money to all those who claim there passwords are cracked or their accounts are hacked. If a PayPal account is ever operated from Pakistan’s IPs PayPal immediately freezes such an account.
For withdrawals PayPal offers two possibilities cheque facility and bank transfer. For the check facility the PayPal required an address not more than 35 characters which is a problem with Pakistan as people’s name itself sometimes are more than 35 characters.
Fears of enabling terrorist funding, money laundering compounded by instability must be overcome by realizing that Pakistan has the all the ingredients of an ideal emerging market which is why both Western Union and MoneyGram opened up shop here.
How to Get a Verified Paypal Account to Withdraw Funds in Pakistan
Paypal, not being in Pakistan, is a big hurdle for many to do online businesses in Pakistan. While Pakistanis have long struggled to get Paypal working in Pakistan – but it hasn’t happened so far. Usually To get a Verified Paypal account and to withdraw funds you need:
* One Paypal account with USA address or in any Paypal supported country * Credit Card issued by by Bank based in USA or from any Paypal supported country to verify the Paypal account. * You must be USA resident or have USA bank account or must be resident of Paypal supported country to withdraw Paypal funds But today i am going to tell you a definite way...