JazzCash has not just established itself, but has truly excelled as a leader in Pakistan’s evolving financial ecosystem, as evidenced by data from the State Bank of Pakistan (SBP).
The latest data shared by the SBP and JazzCash reveals that the company holds a staggering 50 percent, or 17 million, of the 35 million RAAST IDs in Pakistan, a testament to its leadership in the market.
The central bank’s Payment Systems Review for Q2 FY2023-24 revealed that JazzCash alone processed 75 million RAAST transactions compared to 107 million transactions through banks and other microfinance banks (MFBs).
JazzCash’s influence in Pakistan’s financial landscape is undeniable. With a registered customer base of 44 million users, the company represents a significant 50 percent of the country’s ever-evolving branchless banking ecosystem. Its digital footprint is equally impressive, with 22 million app users, accounting for roughly 34 percent of total branchless banking app users in Pakistan.
JazzCash boasts a network of
240,000 agents digitizing cash at a rate of over Rs. 100 billion per month. Data reveals that 300,000 JazzCash merchants processed QR payments worth Rs. 12 billion per month during the period in review.
As JazzCash continues to shape the RAAST ecosystem and the future of financial inclusion in Pakistan, its dedication to efficiency, inclusivity, and innovation remains unwavering. The company looks forward to driving positive change and creating opportunities for all stakeholders in the financial sector
Source: Pro Pakistani