With the progress of entrepreneurial activity in the country, one thing becoming increasingly evident is the absolute lack of e-commerce gateways in Pakistan. While the world embraces digital economy, Pakistan, still, struggles with the possibility of any solutions.
Also Read: E-Commerce in Pakistan, The Tax Story
The rising startup culture in the country, even if not hugely contributing to the national economy, is a litmus test of the entrepreneurial potential that needs to be tapped. Unsurprisingly, majority of the startups involve, in one way or the other – due to the sheer scope of their business strategy built over web connectivity, an e-commerce segment. This is where accessibility to global e-commerce gateways becomes significant for their business growth, consequently translating into national economy progress. In addition to the startups, the larger businesses, too, prefer to have payment transaction options such as provided by Paypal, Google Pay etc., since it reaches out directly to end users earning more profits by bypassing the whole supply chain that consists of various unnecessary nodes: middle-men, brokers and suppliers.
Analysts watching over evolving business trends in Pakistan have been indicating at the growing need for digitization of the economy, and more importantly, for government’s consideration to adopt global e-commerce gateways in Pakistan. With the fast paced advancement of e-commerce advancement, it is imperative to replace the traditional model of transaction with the convenience and efficiency of global e-commerce gateways.
In this regard, Sialkot Chamber of Commerce and Industry (SCCI) has launched a formal campaign to convince government into acknowledging the dearth of transactional facilities in the country, hampering businesses.
President SCCI, Majid Raza Bhutta issued a statement saying:
“Government should direct concerned authorities including the State Bank of Pakistan, Ministry of Information Technology and others to strive for bringing e-commerce payment gateways like PayPal, Google pay, Samsung pay, Ali-pay to Pakistan for necessary promotion of exports and business in international arena.”
Voicing his concern, Ajmal Samuel, Chairman Octo3, a Hong Kong-based company providing Information technology Solutions, said:
“There is a dire need in Pakistan for some global payment solutions as the e-commerce market is growing at a rapid pace.”
While the lack of e-commerce gateways has triggered a few opportunities for the local start-ups to craft solutions, however, the electronic payment solutions hence created lack not only maturity, but also reach.
The SCCI President’s statement holds a lot of weight for any one related to the industry:
“It is a sad fact that as the world has moved away from basic payment gateways to the most advanced e-currency ‘Bitcoin’, Pakistan still lacks payment gateways mandatory to carry out international e-trade.”