Freelancers to get remittances without PayPal wallet: Umar Saif

Umar Saif, the outgoing caretaker Minister of IT & Telecom and Science & Technology, in his X message (formerly ‘Twitter’), has disclosed that online freelancers will be able to receive PayPal remittances starting this month through a tri-party arrangement without needing to create a PayPal wallet,

“The goal is to enable them to accept PayPal payments from their clients abroad through a third-party digital wallet, which will use an international remittance mechanism to remit the dollars to Pakistan, and instantly credit the freelancer’s bank account in Pakistan,” said the minister.

He further explains that the State Bank’s new regime will allow freelancers to open bank accounts against this digital wallet, obtain debit cards, and create dollar accounts so that they can freely use their earnings.

The registration process for freelancers will be overseen by the Pakistan Software Export Board (PSEB), with a nominal tax rate of 0.25% on transactions.

“Along with our plan to create 10,000 e-rozgaar centers, this will enable Pakistan to truly benefit from the earning potential of our online freelancers,” said Umar Saif.