Regulations on the Payment Gateways in Pakistan

[Haris Shamsi]

Hi

I have recently got a chance to register to one of the e-com sites in pakistan. Having the understanding that Citi bank has stopped offering online merchant solutions and that state bank had some concerns on using the payment gateways outside the broder, i was surprised to see that the use of international exchanges/gateways has become pretty common in ecom. other than the normal telenor paisa and UBL/SCB accounts i see few merchants are utilizing gateways like http://www.adyen.com/ etc.

Can some please fill me in on the latest regulations/ norms in Pakistan for online payments.

Thanks

--

http://cloud.pk

You're either part of the solution or part of the problem - Eldridge Cleaver

[Tee Emm]

NIB announced yesterday that they are going to establish MiGS in Pakistan in the coming months. 

Tariq Mustafa - 03458237788 @tariqmustafa 

 

--
You received this message because you are subscribed to the Google Groups "Telecom Grid Pakistan" group.
To unsubscribe from this group and stop receiving emails from it, send an email to telecom-grid-pak...@googlegroups.com.
For more options, visit https://groups.google.com/groups/opt_out.
 
 

[Haris Shamsi]

Thanks Tariq Bhai, I heard Visa is also pushing Cybersource in Pakistani market.

 However i just want to under stand that if today i choose a GW hosted outside, is there any implication on this or any guideline from FBR state bank ?

/HS

[Faisal Khan]

There are no restrictions and/or guidelines and/or any sort of regulatory framework for you (as an end-user) to use a payment gateway that is in Pakistan or outside of Pakistan.

The only thing you need to be cognisant about is the income you derive from this gateway, whilst say being registered in Pakistan as a business. How you treat this inward income and money would be an answer best answered by your Tax consultant. 

Warm Regards,

Faisal Khan

http://about.me/faisal.khan

[Haris Shamsi]

Thanks Faisal -

/HS

[Rizwan Sarwar]

bit off topic, however wanted to know what are the options to transfer funds out of pakistan? Banks don't seem to be very helpful and want to charge enormous fees.

What is experience of business and individuals who want to transfer funds abroad?

/Riz

Best Regards,

Rizwan Sarwar

[Muneeb Ahmed]

The best option i believe to transfer funds abroad from Pakistan would be using Online Payment Processors like Paypal -- Well paypal is not allowed for Pakistan which is yet another tragedy other than no electricity and unstable economy! --- but there are alternatives you can use that is Moneybookers.com ( now known as Skrill ), you can upload funds to it via your Credit Card or bank deposit and send to the other party living abroad and they later can withdraw to their bank account and can get payments within 2-3 days.

For the payment gateway for Pakistani business owners, i run few websites that i'm looking to integerate payment gateways for Pakistani's to pay for the product and services that my site has to offer and i've seen a service by UBL - Green ( https://www.ubldirect.com/corporate/ublgogreen.aspx ) but i've not yet tried this, you might wanna look into it yourself before you fall for everything i say : P 

Good luck

[Inspirex]

UBL launched a merchant banking system recently  as well. Pretty quietly, but they did do it.

Best.

Imtiaz N.

[Sheikh Usman N.]

@Rizwan, you can try any reputed forex company.

Sheikh Usman N.

"First they ignore you, then they laugh at you, then they fight with you, then you win"
-Gandhi

http://sheikhusman.blogspot.com/

http://twitter.com/sheikh85

[Imtiaz Ahmed]

Here one query; why PayPal stop in Pakistan?

Where is PKI ? And who who will manage it? 

NiFT is active as payment clearing house; how it can be leveraged?

GoP support for E-Commerce ?

Regards

--

IMTIAZ AHMED

[Faisal Khan]

Money Exchange Companies. Typically the transfer is done via Dubai and onwards. Some banks (with whom you have a relationship) do, do it, but then they also use money exchange companies. The common issue is, money coming into Pakistan has almost no resistance, but money flowing out, has a large inertia to it.

Warm Regards,

Faisal Khan

http://about.me/faisal.khan

On Thu, Apr 25, 2013 at 3:58 PM, Rizwan Sarwar <rsa...@gmail.com> wrote:

[Faisal Khan]

UBL's system is okay, but they will process Verified by Visa or SecureCode by Mastercard transactions only.

Warm Regards,

Faisal Khan

http://about.me/faisal.khan