JazzCash, Pakistan’s leading digital financial services platform, is set to expand its regional footprint with a strategic move into the Gulf market. Announced during the Money20/20 Asia conference, this expansion aims to simplify and accelerate cross-border remittances for millions of Pakistani expatriates residing in Gulf Cooperation Council (GCC) countries, starting with the United Arab Emirates (UAE).
At the event, Mr. Murtaza Ali, President of JazzCash, unveiled a significant partnership with du Pay, a UAE-based financial services firm. Through this collaboration, Pakistani nationals in the UAE will be able to send money directly into JazzCash mobile wallets via Western Union. This integration seeks to streamline the remittance process, making it faster, more accessible, and more secure for overseas Pakistanis supporting families back home.
“As we expand our regional footprint, our partnership with du Pay and Western Union is a key step towards making cross-border transactions smoother and more efficient for our customers,” said Mr. Murtaza Ali. He emphasized that the partnership is a natural progression in JazzCash’s mission to enhance financial access and convenience for the global Pakistani community.
In addition to enhancing remittance services, Mr. Murtaza outlined JazzCash’s broader strategic roadmap centered on innovation and financial inclusion. The company plans to venture into insurtech, aiming to bridge the protection gap for underserved communities. Another key initiative includes asset fractionalization, which will allow users to invest in high-value assets through micro-ownership models. JazzCash also aims to democratize stock trading in Pakistan, making investment opportunities available to a wider audience.
Furthermore, the company is focused on expanding its digital merchant base, with particular emphasis on supporting women-led businesses and freelancers. Mr. Murtaza highlighted that fintech is not only reshaping economic landscapes but also transforming lives by empowering marginalized segments in emerging economies.
JazzCash currently serves over 20 million monthly active users and plays a pivotal role in Pakistan’s digital financial ecosystem. It boasts the largest QR payment network in the country and has disbursed more than 108 million digital loans to date, making it the largest digital loan issuer in Pakistan. In 2024, JazzCash processed transactions amounting to nearly 9 percent of the country’s GDP and accounts for around 50 percent of all RAAST IDs—the national instant payment system.
Mr. Murtaza acknowledged the supportive role of regulatory bodies such as the State Bank of Pakistan (SBP), Pakistan Telecommunication Authority (PTA), and the Securities and Exchange Commission of Pakistan (SECP). These institutions have played a crucial part in fostering a regulatory environment that promotes innovation while protecting consumer interests.
He also credited VEON, the parent company of Jazz and Mobilink Microfinance Bank, for driving fintech innovation across its operating markets. VEON’s financial services arms—including JazzCash in Pakistan, Simply in Kazakhstan, and Beepul in Uzbekistan—collectively processed $36.5 billion in transaction value over the twelve months ending December 2024.
Mr. Murtaza concluded by noting that the collaborative momentum across JazzCash’s ecosystem is fueling digital transformation not just in Pakistan but across regions. The Money20/20 Asia event, which hosted over 3,000 senior leaders from global financial and tech sectors, served as an ideal platform to showcase JazzCash’s future-forward vision and commitment to inclusive financial growth.