It seems like there’s some good news finally for freelancers based in Pakistan. Global payments company Payoneer has teamed up with local firm JazzCash, a mobile payment provider, in order to allow Pakistani residents to receive funds from their Payoneer accounts directly into their JazzCash accounts.
Most Pakistani freelancers reportedly use Payoneer to accept international payments from marketplaces and direct clients and then withdraw the funds from their domestic bank accounts.
Through Payoneer’s partnership with JazzCash, freelancers will be able to withdraw their funds with competitive exchange rates. This will ensure that freelance workers get more money for their hard work, instantly and conveniently. There will be no need to visit physical bank locations and freelancers won’t have to fill out any lengthy forms.
As mentioned on Payoneer’s official website, Pakistan-based freelancers will receive the following benefits:
- Real-time money transfers – receive money from your Payoneer account instantly
- Quick cash withdrawals – users will get 2 free ATM withdrawals
- $1 minimum withdrawal – withdraw as low as $1 from Payoneer account
In order to access this payments system, users must get the JazzCash mobile app and sign up for a mobile account. After completing this step, users have to log in to their Payoneer accounts from the JazzCash mobile app, in order to link the accounts. This will allow users to send money from their Payoneer account to their JazzCash mobile account.
Freelance workers have experienced challenges when trying to send and receive funds from abroad. Most global payment processors like PayPal do not offer services in Pakistan because the country has failed to implement proper regulatory guidelines for financial transactions.
Pakistan remains on the Financial Action Task Force’s (FATF) grey list and is currently seeking the United Kingdom’s help to get off of it.