As the world is transforming into global village and technology reshaping the life of people across the globe. The behavior of the consumers is also changing day by day as instead of traditional shopping online shopping is trending especially in Pakistan. It is not quite evident that Pakistan is becoming the “Silicon Valley” of South Asia.
According to Pakistan Telecom Authority (PTA) the number of mobile subscribers in Pakistan just crossed 150 Millions by May, 2018. The number of people accessing the internet also increasing day by day hence attracting the investors and yesterday news is Alibaba’s Alipay acquires 45pc shares of Telenor Microfinance Bank approved by Competition Commission of Pakistan (CCP) enabling Alipay as the first mover advantage in the online commerce and digital banking in Pakistan.
Digital Pakistan is not more a dream as the technology is fastly prevailing in our country
Alipay is a moderator mobile and online payment platform owned by the Chinese commerce monster Alibaba, founded in 2004. Billionaire owner Jack Ma led Alipay to overtake Pay Pal as the world’s leading mobile payment platform in 2013. Alipay enjoys a 54 per cent share in China’s $5.5 trillion mobile payment market, by far the largest in the world.
Alibaba Group is a Chinese multinational company specializing in e-commerce, retail, internet, Artificial Intelligence (AI) and technology. Telenor Microfinance Bank is Pakistan’s first scheduled Microfinance bank, and provides microfinance and related financial services.
It is worth mentioning that the leading online shopping website of Pakistan Daraz.com already acquired by Alibaba Singapore Holding.
Investment of these international giants in Pakistan digital market is showing the brightness of digital market in Pakistan. The government of Pakistan is also taking steps to facilitate investors as it will create great employment opportunities for the youth of country. To empower the youth with digital knowledge Federal government and provisional governments also started learning programs like digiskill, E-rozgar etc. to empower youth with digital skills free of cost.
Relevant Read: Pakistan’s Economy: Challenges & Opportunities