JazzCash says making big strides towards enhancing financial inclusion

ISLAMABAD: JazzCash, the leading mobile financial service provider in Pakistan, is making significant strides towards enhancing financial inclusion throughout the country.

Aamir Ibrahim, CEO of Jazz, shared that the company is deeply committed to extending the benefits of digital financial services to every corner of Pakistan, and they have been introducing innovative solutions to meet the diverse needs of their customers.

One of the key factors driving JazzCash’s success in accelerating financial inclusion is the user-friendly and accessible mobile application, boasting an impressive Google Play rating of 4.5. The app enables users from all walks of life to easily open a mobile wallet, regardless of their financial background or literacy levels. With the JazzCash app, users can conduct secure transactions, pay bills, transfer money, and access a wide range of financial products and services.

Acknowledging the significance of collaboration, Aamir highlighted JazzCash’s partnerships with various financial institutions, government agencies, and businesses to extend its reach and impact. Integration with other financial institutions allows seamless money transfers between bank accounts and mobile wallets, thereby facilitating a smooth transition to digital finance.

Recent Q1 2023 data indicates remarkable achievements for JazzCash. The company served 1.4 million customers with digital loans, showcasing an impressive YoY increase of 38.7 per cent. During the same period, the mobile wallet recorded an astonishing 472 million transactions.

The Gross Transaction Value for Q1 2023 surged to an impressive PKR 1.3 trillion, representing a substantial YoY increase of 31.2 percent. JazzCash’s retail presence expansion has been equally instrumental in supporting its growth, with over 122,000 active agents (up 7.3 percent YoY) and almost 179,000 active merchants (up 23.6 percent YoY).

Aamir emphasized, “In addition to providing financial access, JazzCash actively promotes financial literacy to educate users about the advantages of mobile banking and safe online transactions. By empowering individuals with knowledge, JazzCash aims to build a financially resilient and informed society.”

It is pertinent to note that JazzCash’s commitment to financial inclusion has garnered recognition both locally and internationally.

Looking forward, Aamir asserted, “By leveraging mobile technology and forging strong partnerships, we are empowering millions of Pakistanis with the tools and services they need to take control of their finances. With a vision to create a financially inclusive Pakistan, JazzCash continues to pave the way for an empowered, connected, and thriving nation, where every citizen has the opportunity to participate in the formal economy.”

JazzCash’s dedication to driving financial inclusion has the potential to transform the financial landscape of Pakistan, offering numerous opportunities for individuals and businesses to prosper in an increasingly digital world.

Copyright Business Recorder, 2023