How to use digital payments for online shopping in Pakistan is a commonly asked question by consumers. Here is a detailed reply to it.
Online shopping saw unprecedented growth during lockdowns in Pakistan. In addition, an Inc Magazine article from 2017 predicted that cash would soon become obsolete.
Apple Pay allows you to buy items in stores without using credit cards. These apps are now available in countries less developed than Pakistan. However, cash payments are the preferred method to pay in Pakistan.
Pakistan’s E-commerce sector has experienced rapid growth since the pandemic. The new norm has had an impact on digital payments acceptance and growth. People should remain at home during lockdowns. Online shopping may be the only way to shop.
Online shopping is a popular way to shop for all your daily necessities, such as groceries, clothes, accessories, and electronics. This was not a Pakistani phenomenon. Amazon witnessed it firsthand.
However, Pakistan’s market is diverse.
How To Use Digital Payments For Online Shopping In Pakistan
Major names in Pakistan’s Ecommerce sector claim that they have witnessed a significant increase in online shopping and digital payments since the outbreak.
The outbreak helped to increase the sales of indoor games, fruits, and vegetables.
Online retailers in Pakistan have thrived. For example, app-based food delivery companies introduced contactless deliveries during lockdowns.
Senior citizens accept digital payments more frequently than before the lockdown.
People are currently discussing these trends to determine if they will continue even after the lockdown ends.
E-commerce is becoming less popular. When performing online shopping in Pakistan, more people now prefer digital payments.
BANKS ARE UPDATING THEIR DIGITAL PAYMENT SYSTEMS
Banks in Pakistan are well aware of the risks and difficulties associated with digital payments. Therefore, they offer solutions and facilities to customers.
Online shopping transactions are now safe and secure thanks to banks sending one-time pins (OTPs) to customers when their customers use debit or credit cards.
Investment professionals believe that digital payments should be more widely accepted. In addition, banks should make digital payments easier, safer, and more accessible.
Trustworthiness is also a key component of a brand’s success. Both the buyer and the seller can benefit from the use of debit and credit cards and other means of digital payments.
MOBILE WALLETS IN PAKISTAN AND E-COMMERCE
Thanks to EasyPaisa and Jazz Cash, digital payments have been gaining popularity. After the pandemic, some consumers are now shopping online for groceries.
Because they are easy-to-use, mobile wallets like EasyPaisa and Jazz Cash have become more popular in Pakistan. A retailer or a debit card can top it up.
THE FUTURE OF DIGITAL PAYMENTS AND ONLINE SHOPPING IN PAKISTAN
Digital payments can boost the economy. Pakistan’s economy is already boosted by online shopping.
We are hopeful that Pakistani players such as Amazon and PayPal will soon become available.
According to the World Bank, Pakistan’s potential in the digital financial markets is around 36 billion. With such a high potential, both online shopping sites and banks in Pakistan should focus on digital payments.
According to a study, new behaviors can be made automatic in as little as sixty-six days. Therefore, when we consider the length of lockdowns in Pakistan, we should keep this in mind.
Hopefully you would have found a comprehensive guidance for the question of how to use digital payments for online shopping in Pakistan.