Online-Internet Payment in Pakistan:
Although, Internet Sales are handle through COD (Cash on Delivery). This happens with more than 80% Internet Sales, also called Post Payment. The payment is paid by the customer upon the receipt of the actual shipment. Perhaps, for Online / Internet Payment in Pakistan there are many Pre-Payment options available to Internet Retailers in Pakistan; they are distinct as Internet Payment Gateway, Mobile Payment and Internet Bank Transfer.
Internet Payment Gateway
One of the standard and widely used payment option by Internet Retailer world wide is Internet Payment Gateway. The shopper can simply swipe their debit or credit card offered by Banks, Visa, Master, AMEX or other brands. After using card they receive confirmation for their payments. In Pakistan there are at least 3 Internet Payment options available viz HBL Internet Payment Gateway, UBL GoGreen and Tameer Bank Internet Payment Gateway. Moreover, Tameer Bank or Telenor Payment Gateway seems fascinating as there are no upfront or maintenance charges in it. While processing VISA/Master Card they also process Local bank debit card too.
Mobile Payment consists of payment options provided by Telcos in Pakistan. This includes Easy Paisa by Telenor, MobiCash by Mobilink, TimePay by Zong, UPaisa by Ufone and Mobile Paisa by Warid. As per State Bank (SBP) regulation, all Telcos are connected through bank for payment transitions. Apparently, Mobile Payments are instant, secure and convenient. This is because anyone can simply open a bank account (branchless banking) or directly transfer amount, pay bills or deposit to the branchless bank account instantly. The account holder can later withdraw the amount through cheque, debit card, transfers or simply pay bills.
Internet Bank Transfer
Internet Bank Transfer offers spontaneous payment option for Online / Internet Payment in Pakistan. The user can simply add IBAN or Bank Account number and the payment is instantly transfer to the Internet Retailer’s account. UBL Internet Banking also offers list of Internet Retailers for shoppers. In which they simply have to select one from the download and transfer the amount.
One doesn’t need Paypal to settle payment locally and abroad. Perhaps, Google Wallet works in Pakistan whereby one can make payments and receive payments to their Debit Card.
Besides above mentioned payment options, there are other 3rd Party payment options. The options are 2Checkout and Skrill which are equally secure, reliable also has some high end operating costs. So, Internet Retailer has to select one or multiple payment options while offering various options for online payments to their online shoppers.