ISLAMABAD: JazzCash, a subsidiary of VEON Ltd. has crossed 62 million registered customers, processing Rs19.6 trillion (approximately USD 70 billion) in Gross Transaction Value in the twelve months ending June 30, 2026, up 67.5 percent year-on-year, as demand for digital payments, lending, and disbursement services continued to accelerate.
The rapid expansion in transaction value was driven by a 57.1 percent year-on-year jump in twelve-month transaction volume and a 56.3 percent rise in the average number of transactions per user in Q2 2026, reflecting that existing users are transacting more frequently and across a broader range of services.
Transaction growth is anchored in an expanding merchant network and a sustained shift to digital point-of-sale. JazzCash’s network of Raast QR-enabled merchants reached 1.7 million, establishing Pakistan’s largest digital payment acceptance network across corner shops, micro-entrepreneurs, and retailers. The milestone advances the national cashless economy agenda championed by Prime Minister Shehbaz Sharif and the State Bank of Pakistan to promote digital financial inclusion and economic transparency.
Digital lending continued to scale. JazzCash enabled the issuance of 224,000 average loans per day in Q2 2026, extending formal credit to individuals and SMEs, including women-led enterprises that have historically operated outside formal financial channels.
During the quarter, JazzCash and Mobilink Bank introduced access to Government of Pakistan Treasury Bills directly through the JazzCash app, with investments starting from PKR 5,000. Developed in coordination with the State Bank of Pakistan and the Ministry of Finance, the initiative targets one million active investors and is designed to broaden formal market access well beyond Pakistan’s current public market participant base.
Murtaza Ali, CEO of JazzCash, said: “A growing customer base reflects the trust Pakistanis are placing in digital financial services. Beyond payments and lending, we are steadily expanding what JazzCash means for our customers. Enabling investment in government Treasury Bills is one example of how we are democratising access to financial tools that were previously out of reach for most Pakistanis.”
Copyright Business Recorder, 2026
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