JazzCash has taken a major step towards promoting a cashless society with the unveiling of its three-year roadmap. The roadmap, presented by Murtaza Ali, President of JazzCash, and his team, was revealed at VEON’s global headquarters in Dubai. The meeting was attended by Kaan Terzioglu, Group CEO of VEON and Chairman of Jazz’s Board, alongside Aamir Ibrahim, CEO of Jazz and Chairman of Mobilink Microfinance Bank. The roadmap outlines JazzCash’s commitment to driving Pakistan’s transition from a cash-based economy to a digital one, enhancing financial inclusion, and expanding access to digital services.
VEON, the parent company of JazzCash, has reaffirmed its support for JazzCash’s vision. As a global digital operator, VEON is bringing its expertise and resources to strengthen Pakistan’s digital payment ecosystem, ultimately facilitating the country’s economic growth. With its operations spanning six countries, VEON’s investment in Mobilink Microfinance Bank, including a recent US$ 15 million funding, aligns with JazzCash’s objectives of fostering financial inclusion, supporting MSME growth, and enhancing digital banking capabilities.
Kaan Terzioglu, Group CEO of VEON, expressed his commitment to Pakistan’s digital future, stating,
“As a leader in Pakistan’s digital ecosystem, we are committed to driving the transition to a cashless society and ensuring that every Pakistani citizen and micro-entrepreneur has access to affordable payments, savings, credit, and insurance services that meet their diverse needs. With our global expertise and local investments, we will extend full support to JazzCash in accelerating financial inclusion, empowering businesses, and helping integrate the informal economy into the formal sector.”
JazzCash, which has been a pioneer in Pakistan’s digital finance sector, has already achieved significant milestones. With nearly 20 million active users, the platform is the largest in Pakistan’s fintech sector, facilitating diverse services such as utility bill payments, domestic transfers, and digital loans. In fact, JazzCash has disbursed a total of 80 million loans for productive purposes, further supporting the government’s goal of digitizing the economy.
Aamir Ibrahim, CEO of Jazz, highlighted JazzCash’s growth, saying,
“What began with utility bill payments and domestic transfers has evolved into Pakistan’s largest and most transformative financial services platform. JazzCash is driving a shift from a cash-based economy to a digital one, contributing to the State Bank of Pakistan’s vision and the government’s goal of digitizing the economy. With the largest QR payments network, over 360,000 merchants, and the nation’s largest e-commerce payment gateway, we are making financial services more accessible to millions of Pakistanis.”
In 2024, JazzCash processed transactions worth approximately 9% of Pakistan’s GDP and played a key role in Pakistan’s national payment platform, RAAST, by contributing to over 50% of all IDs. The platform’s continued focus on financial inclusion, particularly for women, remains a top priority, with plans to drive further engagement with underserved communities and support women-led businesses.
Looking to the future, JazzCash is expanding its reach regionally, focusing on cross-border payments in the Gulf region. Through its partnership with UAE-based financial provider du Pay, JazzCash users can now send money directly to their mobile wallets in Pakistan via Western Union. Additionally, JazzCash plans to introduce insurtech solutions, tokenized investments, and enhance its digital merchant base. The company is also committed to raising the percentage of female customers to 50% and supporting freelancers with digital financial tools.
As part of its long-term strategy, JazzCash’s objectives align with the State Bank of Pakistan’s goal to boost financial inclusion to 75% and reduce the gender gap to 25% by 2028. With its roadmap in place, JazzCash is positioning itself at the forefront of Pakistan’s digital revolution, helping pave the way for a more inclusive and sustainable economic future.
