VEON’s JazzCash Strengthens Pakistan’s Payments Ecosystem with Mastercard Partnership
May 5, 2020 | AmsterdamPartnership to improve financial inclusion during COVID-19 pandemic
VEON Ltd. (NASDAQ and Euronext Amsterdam: VEON), a leading global provider of connectivity and digital services, announced a partnership between JazzCash and payment technology leader Mastercard – strengthening the payments ecosystem for merchants and customers in Pakistan.
More than seven million customers and merchants use JazzCash every month, making it Pakistan’s leading digital wallet. The partnership with Mastercard will allow merchants to accept digital payments from customers, digitise their supply chain, and move to cashless operations.
In a first for Pakistan, merchants and consumers who sign up for JazzCash wallet will be able to benefit from a wide range of Mastercard’s digital solutions and capabilities to pay for orders and services via all digital channels as well as make online payments in a fast, safe and convenience manner.
VEON’s co-CEO Sergi Herrero commented: “The COVID-19 pandemic is highlighting the need for digital payments, more than ever before. This partnership with Mastercard will allow our more than seven million customers and merchants to carry out their essential transactions in a safe and efficient way. In the future, with a young and fast-growing population of more than 200 million, there is clearly scope in Pakistan for JazzCash to accelerate its recent growth while improving financial inclusion.”
Amnah Ajmal, Executive Vice President, Market Development, Middle East and Africa – Mastercard, said: “With a large percentage of Pakistan’s population still unable to access formal financial services, this partnership serves to drive financial inclusion in the country and will provide customers with a much simpler, faster and more secure way of making payments. It will further equip them with the necessary tools to benefit from a newer and revamped digital economy. As a global leader in the payments technology sector, we are committed to helping Pakistan unlock the economic opportunities offered by digital payments.”
JazzCash customers will also have access to Mastercard’s virtual and branded debit cards that can be used in 55,000 points of sale and ATMs in Pakistan, in addition to JazzCash merchants and e-commerce sites.
About Mastercard
Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
