NIFT, Checkout.com aim to bring int’l payment methods to Pakistan

'Implementation of the project, MoU for which was signed last month, will enable both organisations provide payment services through each other's infrastructure'

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ISLAMABAD: After signing a Memorandum of Understanding (MoU) last month, the National Institutional Facilitation Technologies – Pakistan (NIFT) and Checkout.com have kicked off their project aimed at bringing international payment methods to Pakistan.

According to officials, the project was launched during the 3rd meeting of National e-Commerce Council (NeCC), held at the Ministry of Commerce on Thursday.

They said the implementation of the project will enable both organizations to provide payment services through each other’s infrastructure and pursue commercial opportunities as a partnership.

This strives towards a borderless experience for business and consumers alike, promoting digital payments and settlements for exports and digital commerce across Pakistan, the officials said.

Last month, an MoU was signed between NIFT and Checkout.com for collaboration to bring greater payment options to the Pakistan market. The agreement enables both organizations to provide payment services through each other’s infrastructure, pursue commercial opportunities as a partnership.

Checkout.com is a global payment provider which offers reliable payments in more than 150 different currencies, in-country acquiring, robust fraud filters and reporting – all accessed through a single point of integration. They accept payments from all major international card schemes, including Visa, MasterCard, American Express and Union Pay as well as popular alternative and local payment methods. Checkout.com brings a unified offering of all the prominent international payment methods and wallets such as PayPal, AliPay, Apple Pay and Google Pay enabling the merchants to pay and run their businesses in Pakistan.

Meanwhile, during the meeting of NeCC, a MoU was also signed between Pakistan Software Houses Association ([email protected]A) and Chain Store Association of Pakistan to promote the use of indigenous technology and connectivity of the SMEs.

The agenda items pertaining to FBR included updates on cross border e-commerce procedure (integration of e-commerce exports with WeBoC), and progress on formulation of return policy for e-commerce exports. SECP briefed about the facilitative registration mechanism introduced for the e-commerce sector.

The private sector sub-committee, formulated on financial inclusion and digitization through payment infrastructure during the second NeCC, shared its progress over digital transformation in payments. The sub-committee was formed with the aim to identify and explore opportunities to promote e-commerce through gradual shift towards digital payments. The presentation portrayed the current state of digital payment landscape and the need to introduce some taxation incentives for encouraging the masses towards digital adoption.

Terms of Reference for the Consultative Group on Women Economic Empowerment (WEE) (approved during the 2nd meeting of National e-Commerce Council) were also shared for approval of the Council. The role of WEE would be the representation of the economic interests of women, provision of policy inputs to the National e-Commerce Council (NeCC) in order to promote gender mainstreaming through national e-Commerce policy and other trade related policies.

Discussing the logistics sector, Pakistan Post briefed the participants about the latest development made for integration of Pakpost with National Single Window, digital transformation of the National Postal Service with increased transparency through tracking and traceability of shipments and a new planned initiative of collect and return services for the exchange and return of articles through postal counters.

An update was also shared from FBR and PRAs on harmonization of taxation regime through National Tax Council and taxation facilitation introduced for the private sector with the intention to promote e-Commerce. The Ministry of Information Technology and Telecommunication updated the personal data protection bill, the revised draft of which will be available for public comments within a month or two.

Adviser to Prime Minister on Commerce and Investment Abdul Razak Dawood had chaired the 3rd meeting of NeCC, which is a body of representatives from public and private sector and it was constituted in line with the directions of National e-Commerce Policy of Pakistan, approved by the Federal Cabinet on 1st October, 2019.

2 COMMENTS

  1. You forgot the two most important issues
    1. When will it start working for regular citizens ?
    2. Will it be safe and how much will it cost?
    Rest is all French for an average citizen thx

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