The report was published by the Pakistan Telecommunication Authority (PTA) for 2017. The State Bank of Pakistan (SBP) has devised and approved regulations pertaining to the framework of Payment System Operators (PSO) and Payment Service Providers (PSP), while the development of an ecommerce policy framework is also under wraps.
The report found that entrepreneurs in the private sector have launched numerous ecommerce initiatives for consumers (B2C) that have, over time, become success stories. The most important element of the ecommerce ecosystem is the payment gateway that will enable the entry of credible international players in Pakistans ecommerce ecosystem and will resolve a longstanding barrier to its growth.
Alibaba has also shown an interest in the Pakistani market, having recently signed a Memorandum of Understanding (MoU) with the Trade Development Authority of Pakistan (TDAP) to help boost small and medium enterprises.
According to the report, Pakistan is generally a cash-driven economy, as mobile wallet (m-wallet) accounts are scarce and the number of debit/credit card-holders is small – indicating that over 95 per cent of the transactions in the country are done on a cash-on-delivery basis.
Pakistan is also making good progress in terms of business-to-business (B2B) front, with the software industry aiming to reach exports worth USD 5 billion by 2020. It has various medium-sized firms that earn over USD 500 million, mainly in software development and service outsourcing.
Pakistans IT sales amount to only USD 2.8 billion of the USD 3,200-billion global market. What gives hope is the fact that Pakistani consumers trend of online purchases is not just limited to day-to-day products; websites offering cars, property, and travel packages exist in the country, showing that people are using the Internet to buy a wider range of experiences.
Some of the local portals – PakWheels, Zameen.com, Food Panda, Rozee.pk, Daraz.pk – have emerged as leading online businesses in Pakistan.
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