JazzCash, a subsidiary of VEON Ltd., has crossed 62 million registered customers as demand for digital payments, lending and disbursement services continues to grow across Pakistan. The digital financial services platform processed Rs19.6 trillion, equivalent to approximately $70 billion, in Gross Transaction Value during the twelve months ended June 30, 2026. The transaction value increased by 67.5 percent year-on-year, highlighting the growing use of digital financial services among consumers, businesses and other users.
The increase in JazzCash’s transaction value was supported by significant growth in both transaction activity and user engagement. The company recorded a 57.1 percent year-on-year increase in twelve-month transaction volume, while the average number of transactions conducted per user rose by 56.3 percent during the second quarter of 2026. The figures indicate that the growth was not limited to the expansion of the registered customer base, as existing users were also using the platform more frequently and accessing a wider range of financial services.
JazzCash’s growing merchant network has also played a major role in the expansion of digital transactions. The company’s network of Raast QR-enabled merchants reached 1.7 million, giving JazzCash one of the largest digital payment acceptance networks in Pakistan. The network covers corner shops, micro-entrepreneurs and retailers, allowing businesses of different sizes to receive digital payments through QR-based transactions. The expansion comes as Pakistan continues to encourage greater use of digital payments and reduce reliance on cash transactions.
The growth of the merchant network is also contributing to broader access to digital financial services for smaller businesses and individual entrepreneurs. By enabling merchants and retailers to accept digital payments, JazzCash is expanding the points at which customers can make cashless transactions. The development supports efforts by Prime Minister Shehbaz Sharif and the State Bank of Pakistan to increase digital financial inclusion and improve transparency within the country’s financial system.
Digital lending has remained another important area of growth for JazzCash. During the second quarter of 2026, the platform enabled the issuance of an average of 224,000 loans per day. These loans provided formal credit access to individuals and small and medium-sized enterprises, including women-led businesses that have historically had limited access to formal financial channels. The scale of daily loan issuance demonstrates the increasing role of digital platforms in delivering financial services to customers who may otherwise face barriers when accessing traditional credit.
JazzCash has also expanded beyond payments and lending by introducing investment access through its mobile application. During the quarter, JazzCash and Mobilink Bank introduced an option for customers to invest directly in Government of Pakistan Treasury Bills through the JazzCash app. Investments can start from PKR 5,000, providing retail customers with an entry point into government securities without requiring a large initial investment.
The Treasury Bill offering was developed in coordination with the State Bank of Pakistan and the Ministry of Finance. The initiative has a target of reaching one million active investors and aims to expand participation in formal investment markets. By making government securities available through a widely used digital financial platform, the initiative seeks to extend access to investment products beyond Pakistan’s existing public market participant base.
Murtaza Ali, CEO of JazzCash, said the company’s growing customer base reflects the trust Pakistanis are placing in digital financial services. He said JazzCash is expanding its role beyond payments and lending by providing customers with access to a broader range of financial tools. He highlighted the Treasury Bill facility as an example of the company’s efforts to make investment opportunities more accessible to a wider segment of the population.
With 62 million registered customers, Rs19.6 trillion in Gross Transaction Value and 1.7 million Raast QR-enabled merchants, JazzCash continues to expand its presence across Pakistan’s digital financial services market. Its growth in payments, digital lending and investment access reflects the increasing use of mobile-based financial services and the expanding range of transactions that customers can conduct through digital platforms.
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