Digital payments are becoming a cornerstone of economic transformation, transparency, and financial inclusion, according to JazzCash Chief Product Officer Aamir Aftab. Speaking at Money20/20 Riyadh, a leading global platform on financial innovation, Aftab joined international industry leaders to discuss the evolution of contactless payments and the future of digital financial services.
Aftab explained that when transactions shift from cash to digital channels, citizens gain access to formal financial histories, businesses integrate into the documented economy, and societies at large benefit from broader participation and accountability. He stressed that digital payments not only simplify transactions but also unlock opportunities for individuals and enterprises to grow within a transparent system.
Money20/20 is recognized as one of the world’s most influential gatherings for financial technology, bringing together regulators, banks, payment networks, and technology innovators. By representing JazzCash at this event, Aftab placed Pakistan’s digital payment ecosystem on the global map, highlighting both achievements and future challenges.
A significant part of his address focused on JazzCash’s efforts to empower women financially. He revealed that women currently make up around 33 percent of JazzCash’s customer base, up from just 17 percent three years ago. The company now aims to increase that share to 50 percent by expanding access, designing inclusive products, and building trust in digital finance for women across Pakistan.
Looking at the broader payments landscape, Aftab shared that Pakistan has nearly 57 million payment cards and about 179,000 point-of-sale machines. JazzCash has been addressing the infrastructure gap by introducing JazzCash Tap, a solution that converts mobile phones into POS machines for retailers. This innovation has widened acceptance for digital transactions and was recognized internationally with the Mastercard Award 2024 for “Pioneering Telco to Launch Tap on Phone.”
He further outlined the future of payments in Pakistan, which he believes will be defined by convergence with embedded credit, loyalty programs, and personalization. JazzCash Raast QR has already expanded interoperability by enabling payment acceptance from all banking apps, while NFC-powered JazzCash Tap is reshaping digital transaction experiences in urban centers. Global trends in wearables, he added, will further integrate payments into everyday life.
“The next phase of Pakistan’s cashless journey is about smarter transactions that unlock growth for every segment of society,” Aftab remarked. “From women entrepreneurs to small retailers, digital payments are enabling people to participate fully in the economy.”
Highlighting JazzCash’s scale, Aftab pointed out that the company operates Pakistan’s largest payment acceptance network with nearly 600,000 merchants. It commands close to 80 percent of Raast P2M and QR transactions and processes one in every three e-commerce payments nationwide. Serving 53 million customers, JazzCash continues to play a pivotal role in driving Pakistan toward a digitally inclusive and cashless economy.
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