Pakistan, China to collaborate for digital payment system

BEIJING: ”Pakistan government is focusing on the development of e-commerce. China is leading the world in the field of e-commerce. Last year, its e-commerce transaction was $2 trillion, which is more than the added-up figure of e-commerce trades done in the US and Europe,” said Pakistan Ambassador to China, Moin ul Haque.

“We would like to promote our e-commerce infrastructure to benefit from this huge market, and to upgrade our telecommunication sector and modernize the e-payment system,” he said during a dialogue themed by Digital Belt and Road on the 4th Belt and Road Service Trade Cooperation Forum held in Beijing.

“As a payment infrastructure builder, our payment services coverall Belt and Road countries with 50 supported currencies. As Pakistan’s e-commerce is developing fast, many of our customers, especially e-commerce customers, have frequent economic exchanges with Pakistan,” said Wu Kai, Airwallex Greater China CEO, who also joined the dialogue and discussed digital payment development with Moinul Haque.

“We can make payment more efficiently with lower cost, and we can help customers control their financial risks.”