Yes u have heard it right! In a month or so, one of the largest UAE based group who currently has a telco, bank and other technology companies under his umbrella, is almost set to launch the first ever payment solution in Pakistan. Since they have successfully implemented payment gateways in other countries too therefore it promises to be robust and flexible to make e-merchants life easy. To make transactions highly secure and fraudelent proof, merchants will have to enroll for Verified by Visa (a Visa program which requires dual authentication), in other words if someone finds out all your CC detail he still wont be able to transact online.
However the sad news for ebusiness is that they will only be able to accept credit cards which may make things a little bit difficult as currently there are merely 0.9 million CC holders, not only that a few bank also charge consumer Rs. 100 each time they request their bank to user their cards online.
All in all the future seems bright for all those who have been waiting anxiously for this facility. I am sure it will too give birth to some new entrepenuers who stalled and found this as their biggest hurdle to join others in e-pool.
Sadly ……. we are really losing lot of our export due to lack of payment gateway … still after two months there is no gateway announced yet …………….