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Pakistan, China to Cooperate on Digital Payment System

Islamabad: According to published reports, Pakistan and China have agreed to collaborate on the creation of a more efficient digital payment system for all Belt and Road countries.

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According to reports, the Pakistani government is focusing on developing e-commerce with assistance from China, which now leads the world in e-commerce. According to sources, the e-commerce transaction of China was worth USD 2 trillion in the last year.

In his talk to the forum, Wu Kai, Chief Executive Officer (CEO) of Airwallex Greater China, underlined the need to make payments more cost-effective and efficient and to assist customers in managing their financial risks. He remarked that the global trade and digital economy is expanding, which demands the demand for digital payment services.

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In addition, the CEO emphasized the significance of the banking sector, as several nations lack suitable financial infrastructures. He stated that Belt and Road countries can exchange their experiences and improve the efficiency of the payment system.

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