Provider of digital services VEON has announced a partnership between JazzCash and Mastercard to strengthen the payments ecosystem in Pakistan.
Over seven million customers and merchants currently use JazzCash every month, making it one of Pakistan’s leading digital wallets.
The partnership will allow merchants to accept digital payments from customers, digitise their supply chain, and move to cashless operations.
Sergi Herrero, VEON’s co-CEO, said: “The Covid-19 pandemic is highlighting the need for digital payments, more than ever before. This partnership with Mastercard will allow our consumers and merchants to carry out their essential transactions in an efficient way.
“In the future, with a young and fast-growing population of more than 200 million, there is clearly scope in Pakistan for JazzCash to accelerate its recent growth while improving financial inclusion.”
Driving financial inclusion
Through the partnership, customers who sign up for JazzCash wallet can access a range of Mastercard’s digital solutions and capabilities. These can be used to pay for orders and services via all digital channels as well as make online payments.
Amnah Ajmal, EVP of Market Development, Middle East and Africa Mastercard, said: “With a large percentage of Pakistan’s population still unable to access formal financial services, this partnership serves to drive financial inclusion in the country and will provide customers with a much simpler, faster and more secure way of making payments.
“It will further equip them with the necessary tools to benefit from a newer and revamped digital economy. As a global leader in the payments technology sector, we are committed to helping Pakistan unlock the economic opportunities offered by digital payments.”
JazzCash customers will also have access to Mastercard’s virtual and branded debit cards. The cards can be used at 55,000 POS’ and ATMs in Pakistan, in addition to JazzCash merchants and e-commerce sites.