KARACHI – JazzCash, Pakistan’s leading fintech platform, has unveiled a three-year roadmap aimed at accelerating the country’s shift towards a cashless society. The roadmap was presented by JazzCash President Murtaza Ali and his team to Kaan Terzioglu, Group CEO of VEON, and Aamir Ibrahim, CEO of Jazz and Chairman of Mobilink Microfinance Bank. The unveiling took place in the presence of VEON’s leadership, which reaffirmed its commitment to supporting JazzCash’s vision and pledged its global resources to bolster Pakistan’s digital payment ecosystem.
The move to a cashless society is expected to unlock Pakistan’s growth potential by integrating the informal economy into the formal sector, boosting financial inclusion, increasing tax compliance, and ultimately driving up government revenues. This transition is seen as essential for creating a more robust and sustainable socioeconomic landscape for Pakistan.
VEON, a global digital operator based in Dubai and the largest Nasdaq-listed company, has also made a recent $15 million investment in Mobilink Microfinance Bank to help achieve strategic objectives, including supporting MSME growth, expanding Islamic banking, and enhancing digital capabilities in Pakistan.
Kaan Terzioglu emphasized, “As a leader in Pakistan’s digital ecosystem, we are committed to driving the transition to a cashless society, ensuring that every Pakistani citizen and micro-entrepreneur has access to affordable payments, savings, credit, and insurance services that meet their diverse needs.”
Aamir Ibrahim highlighted that with nearly 20 million monthly active users, JazzCash is pivotal in shifting Pakistan from a cash-based economy to a digital one. The platform is also helping the State Bank of Pakistan realize its vision for financial digitization.
JazzCash currently leads Pakistan in QR payments, with over 360,000 merchants in its network, and is the largest digital loan issuer in the country, having disbursed 80 million loans for productive purposes. In 2024, JazzCash processed a transaction volume representing approximately 9% of Pakistan’s GDP and accounts for more than 50% of all IDs on Pakistan’s national payment platform, RAAST.
Looking ahead, JazzCash plans to expand its regional footprint, particularly in the Gulf, to facilitate cross-border payments. The platform already partners with UAE-based du Pay, powered by Western Union, to enable Pakistani nationals to send money directly to JazzCash mobile wallets.
