Pakistan among the countries with the most freelancers is being cornered in terms of payment gateways. Paypal, and Stripe are already not an option for Pakis whereas Payoneer has recently increased their tariffs. With Cryptos already termed as unofficial illegal currency in Pakistan another nail has been put to the coffin in means of Perfect Money. Yesterday I got an email from Perfect Money that they cannot serve customers based in Pakistan. Well, that payment gateway is not that popular and is mostly a haven for malicious usage but despite that, they have decided not to support Pakistan. We don’t know what kind of legal challenges or hurdles they have been faced but certainly this is a very bad omen for Pakistan’s IT industry. The government’s minimal efforts in this regard can not be blamed as Pakistan has been facing a brain drain for the past couple of years and the only people left now are not capable of seeing or handling such things, especially at powerful places where nepotism prevails as birthright.
Here is a sample of the email received to me yesterday.
Dear ********,
We regret to inform you that Perfect Money is currently unable to serve customers based in Pakistan. As a result, all accounts registered to addresses in Pakistan will be closed on November 29, 2024.
Here’s what will happen and what you need to do:
As of October 30, 2024, all Perfect Money accounts registered in Pakistan will stop functioning, meaning you will no longer be able to deposit or use any funds. We strongly advise that you withdraw any remaining funds from your account before this date.
After October 30, 2024, you will still be able to withdraw your money, but please note that you will have 30 days to complete any withdrawals before your account is officially closed. Be sure to act promptly to avoid any inconvenience.
Effective immediately, Perfect Money will not accept new registrations from customers in Pakistan and will also cease accepting documents issued in Pakistan for the verification of new users.
This decision is due to complex regulatory changes that have made it increasingly difficult for us to operate in the region. We are committed to navigating these challenges, and as soon as a regulatory framework is established that allows us to resume operations in Pakistan, we will promptly notify you.
Thank you for your understanding and patience during this transition.
(C) 2007-2024 Startup Smart Development. All rights reserved.
However Pakistanis can still enjoy all the payment gateway through registering a limited company in other countries but that’s a story for another time.
