ISLAMABAD: JazzCash announced its strategic partnership with du Pay, the recently launched fintech arm for du, from the Emirates Integrated Telecommunications Company (EITC).
The MoU signing marked a milestone as the first-ever collaboration between a Pakistani fintech organisation and du Pay, to simplify cross-border payments from the UAE to Pakistan.
The UAE hosts a vast Pakistani expatriate community. It holds the distinction of being the second-largest contributor of remittances to Pakistan after Saudi Arabia, with remittances reaching $ 548 million dollars in March 2024 alone.
“We are committed to using technology to enhance financial inclusion. Our partnership with du Pay simplifies payments for Pakistanis everywhere, emphasising our role in boosting economic growth. Remittances from our expatriates are vital, sustaining households and powering our economy. This collaboration helps ensure that these contributions have a lasting impact on Pakistan’s economic stability,” said Aamir Ibrahim, CEO of Jazz.
This marks the commencement of a long-term collaboration between JazzCash and du Pay, setting the stage for future collaborations to advance accessibility and innovation in the digital financial services landscape.
Fahad Al Hassawi, CEO of du, said: "As a leading digital telco, we are committed to delivering exceptional services and solutions to our customers, and we believe this partnership between du Pay and JazzCash, a leading mobile money operator in Pakistan, will ensure streamlined customer experience with great benefits. du Pay will offer a simplified and secure digital service that will advance financial inclusion and positively impact the lives of Pakistani nationals.”
du Pay, licensed by the Central Bank of the UAE, is committed to simplifying digital financial services for diverse user demographics. With a diverse suite of services, including international money transfers, peer-to-peer (P2P) transfers, mobile top-ups, bill payments, and salary deposits through an IBAN, du Pay ensures versatility and inclusivity.
As strategic allies, JazzCash and du Pay will be exploring new avenues of cooperation, leveraging their strengths to drive innovation and expand JazzCash's footprint in the UAE markets.
Copyright Business Recorder, 2024
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