Not sure if you can use PayPal in Pakistan to receive payments from abroad? We’ve got you covered!
In this blog, you’ll find out whether you can create and use a PayPal account in Pakistan or not. And, in case of unavailability, what are the most popular alternatives of PayPal that are accessible locally?
Now without further ado, let’s begin!
More About PayPal in Pakistan
One of the most popular digital payment methods in the world, PayPal has millions of active users. It is a fintech company headquartered in the US. For every transaction, the payment merchant charges a certain percentage of the total amount and this is how its business model works.
Is PayPal Available in Pakistan?
Almost every other freelancer and remote worker in the country asks this question — is PayPal available in Pakistan? Well, as of now, the service of this world-famous payment merchant is not available for Pakistanis.
PayPal could help with internet penetration and e-commerce growth in the country. However, to bring this online payment merchant to the country, the concerned authorities need to revise e-commerce policies. They need to be more lenient and flexible to facilitate international digital payment platforms.
How to Create PayPal Account in Pakistan
Though the online payment service doesn’t operate in the country, you can still sign up for a PayPal account in Pakistan with a little help from your overseas friends.
When it comes to creating a PayPal account, you have the following options:
- Personal Paypal Account
- Business PayPal Account
How to Make PayPal in Pakistan (Personal Account)
Follow the below process on how to make Paypal account in Pakistan in a step-by-step manner
Paypal Sign Up Pakistan
- Visit www.paypal.com and click on the “sign up” button.
- You won’t see Pakistan in the selection list because the service doesn’t operate here.
- It’s when you need to ask for a favour from someone living abroad (maybe a trustworthy friend or a relative).
- You’ll ask for their address rather than entering your own
- This is the only way to create a legit PayPal account in Pakistan.
- Afterwards, proceed while filling out the other website requirements.
- Once done, you can easily operate your PayPal account in Pakistan.
How to Create Business PayPal account in Pakistan?
We have already detailed the process of how to make a personal PayPal account in Pakistan. Now, we’ll talk about the PayPal business account.
First of all, you need to have a business registered under your name in the US. It can be a small-sized company like an LLC. Fret not, if you don’t have one. You can ask your overseas relatives, family members or close friends for their credentials for this purpose.
To open a PayPal business account in Pakistan, fulfil the following requirements:
- A company/business registered in the US
- Your Tax ID / Employer Identification Number (EIN)
- A bank account for your business in the US for your PayPal account verification
- A verifiable mailing address/phone number for your company in the US
Paypal App Download in Pakistan
Want to download the Paypal App in Pakistan? It’s easy. All you have to do is to visit Google PlayStore or the Apple App Store and download the app for free.
How to Download PayPal App in Pakistan (Step-By-Step Guide)
- Visit your respective online app market to download the PayPal App.
- In the search bar type “PayPal”. Click on the “get’ or “install” button.
- Your download may take a few moments to complete.
- Once it’s installed, click on the “open” button to access it.
- If you haven’t signed up already, use the aforementioned steps to create PayPal account in Pakistan via the app.
How to Use PayPal Account in Pakistan (Alternative Way)
Have you heard about the Xoom service by PayPal? Fortunately, it is now available in Pakistan and can help you receive your payments from abroad.
How to Send Money with Xoom to Pakistan
- Log on to the Xoom web portal or app
- You can also sign in to Xoom using your PayPal account or sign up for a new one.
- Enter the amount you want to send.
- Insert the required information of the recipient.
- There is also a converter on the website and app that converts your entered amount into PKR.
- You can also send your funds in cash or via bank transfer.
- Click on “Send Money” to proceed with your transaction.
How to Receive Money via PayPal in Pakistan
You may not be able to use your PayPal account in Pakistan to receive money, but you can surely use the Xoom app to do so. You can either receive your payment in cash or via bank transfer.
Partner Banks of Xoom in Pakistan
PayPal has partnered with the following banks to offer its Xoom services across the country:
- Bank Alfalah
How Fast Can You Receive Money with Xoom in Pakistan?
Xoom service allows you to receive your payment in Pakistan on the same day, especially in the selected bank branches.
What is the Minimum PayPal fee in Pakistan?
Xoom service by PayPal claims that it has no fee, but there are hidden charges in the name of transaction fees and exchange rates.
Here is a breakdown of the transaction to help you understand the fee deductions:
|Exchange Rate (USD to PKR)||$1 = PKR 226.7|
|Bank Deposit Fee||$4.99|
|Amount Received in PKR||PKR 21,536|
*Exchange rate mentioned above is, as of Jan 13, 2022
Benefits of Paypal in Pakistan
Want to learn more about the benefits of using PayPal? Here’s what the payment merchant offers to its customers.
PayPal’s customer-centric refund policy allows you to avoid online scams. To ensure a secure shopping experience, PayPal gives a 180-day duration to its customers to claim refunds.
Flexibility in Payments
You can easily send and receive payments anytime and anywhere. Using a personal PayPal account, a user can transfer money from PayPal to their bank account in just 24 hours.
Offering a swift transaction management system, PayPal allows you to keep track of all the transactions. Moreover, it also offers auto-generated receipts that can be forwarded to customers.
Best PayPal Alternatives in Pakistan
In the absence of the PayPal service locally, many other local and international fintech companies are thriving. Here are the ones frequently used by freelancers in Pakistan.
It is an American digital payment platform headquartered in NYC. Payoneer is used by millions of people to send and receive payments around the world. The most widely known freelancing websites like Upwork and Fiverr have Payoneer as one of their digital payment partners.
Payoneer is available in Pakistan, but using it isn’t free as it charges additional fees on direct transactions. Also, it has recently partnered with HBL to help recipients withdraw payments in seconds.
Wise (Former TransferWise)
Wise is also a widely used digital payment service with more than 12 million users. Like other fintech services, you can sign up on the Wise website for free. Using this platform, you can receive money in Pakistan from abroad. wherever the service is available.
The official website of Wise claims that it has low transfer fees and uses mid-market exchange rates, which results in fewer deductions. You cannot receive your payment in cash, but only via bank transfers using Wise.
Other Mobile Wallet Services (EasyPaisa, JazzCash)
Digital wallet services by telcos in Pakistan like JazzCash and EasyPaisa are also gaining rapid popularity. Yes, these mobile wallets also allow users to receive international payments and remittances. To open your account on these e-payment services, all you need is a mobile number and a valid CNIC.
There you have it — a comprehensive guide on using PayPal and its popular alternatives available locally.
If you are looking for additional information on the subject, please free to drop us your email at firstname.lastname@example.org. We’d be happy to assist you with your queries.
For more informative lifestyle guides and detailed property pieces, stay connected with the best real estate blog in Pakistan. You can also subscribe to our email newsletter for the latest updates.