In a major step forward for Pakistan’s digital payment landscape, JazzCash, the country’s leading fintech, has joined forces with DgPays, a top financial infrastructure provider in the EMEA region. This exciting partnership aims to revolutionize e-commerce transactions, enhancing speed, security, and the overall user experience for merchants and consumers across Pakistan.
The move comes as digital wallet adoption soars, signalling a bright future for cashless payments in the region. In fact, digital wallet transactions in Pakistan surged by an impressive 134% year-on-year, totalling 269 million for the year ending June 2024. Let’s dive into what this partnership means for the growth of e-commerce in Pakistan and how JazzCash is leading the way.
Key Highlights of the Partnership 🎉
The JazzCash-DgPays collaboration promises a significant boost to Pakistan’s e-commerce ecosystem. Here’s what you can expect from this game-changing alliance:
- Enhanced Payment Speed and Security – The new gateway will streamline online transactions, making payments quicker and safer for all users.
- Optimized Customer Experience – From smoother checkouts to improved security, customers and merchants alike will benefit from a seamless experience.
- Support for E-commerce Growth – With JazzCash already serving over 1,700 e-commerce merchants across various sectors, this upgrade is set to empower even more businesses.
Digital Payments on the Rise 📈
The State Bank of Pakistan’s (SBP) recent decision to raise financing limits for SMEs to Rs. 500 million also highlights a favorable environment for digital growth, encouraging small and medium enterprises to expand with the help of secure, accessible financial solutions.
JazzCash, in particular, has experienced phenomenal growth:
- 110 million transactions processed in the first three quarters of 2024, marking a 150% year-on-year increase.
- Digital wallets now represent 87% of all online payments, underscoring a shift towards a cashless economy.
This data reflects Pakistan’s shift toward digital payments, especially as e-commerce gains momentum. JazzCash is well-positioned to lead this change, enabling businesses of all sizes—from micro-entrepreneurs to larger SMEs—with tools that fuel growth and simplify finance.
JazzCash’s Vision for Pakistan’s Digital Economy 🌐
Murtaza Ali, President of JazzCash, expressed his excitement about the partnership, stating:
“At JazzCash, we are dedicated to empowering businesses, from micro-entrepreneurs to startups and SMEs, with the financial tools they need to thrive in an increasingly digital economy. As Pakistan’s e-commerce sector undergoes unprecedented growth, JazzCash is committed to providing secure, seamless, and swift payment solutions. Our new payment gateway will enable thousands of e-commerce merchants to accelerate their growth by streamlining transactions, simplifying checkout, and enhancing security.”
JazzCash’s commitment to innovation is clear, and as Pakistan continues to embrace cashless transactions, this partnership with DgPays is a significant step forward for both the economy and the fintech industry.
