JazzCash and Mastercard 2021 Introduce New Solutions to Transform Pakistan’s Digital Payment Ecosystem
Islamabad – 13 October 2021: Pakistan’s leading fintech JazzCash, in collaboration with Mastercard, is strengthening the country’s digital payments ecosystem. Users will now be able to apply for a physical or virtual Mastercard Debit Card and make payments to merchants accepting Mastercard QR payments.
The new Mastercard Debit Card will be available to all Users via a hassle-free application process through the mobile app, call center or by dialing *786#. The card can be used to pay at over 67,000 point of sale merchants and over 2,000 local online merchants. It also provides access to cash withdrawals at over 16,000 automated teller machines (ATM). Customers will also be able to get Mastercard Virtual Cards instantly through the JazzCash app and then immediately use it for secure online payments.
The new set of financial solutions is set to transform Pakistan’s payments industry by simplifying access to digital payments for millions of Pakistanis and driving financial inclusion among those without access to a formal bank account. Consumers will benefit from Mastercard’s world-class digital solutions, with the new solutions allowing users to access digital services and make online payments safely and seamlessly.
“Our collaboration with JazzCash leverages global payments technology to deliver an innovative line of payment solutions that will further drive digital transformation in Pakistan. The new debit cards will redefine the ways consumers shop online and manage their finances, thereby accelerating the shift towards e-commerce and simplifying the connection between online merchants and their target audience. Ultimately, our goal is to catalyze the shift towards secure and simple digital payments and drive inclusive growth for millions of people in Pakistan’s booming digital economy,” said Ngozi Megwa, Senior Vice President, Digital Partnerships MEA, Mastercard.
“JazzCash has been at forefront of leading the country towards a digitized economy and teaming up with Mastercard is one such strategic step towards driving financial inclusion and increasing digital banking footprint of Pakistan. This partnership with Mastercard will allow over 13 million Monthly Active Users of JazzCash to carry out digital payments in a convenient and secured environment with additional payment touchpoints within Pakistan.” added Murtaza Ali, interim CEO JazzCash.
JazzCash is Pakistan’s leading fintech with over 13 million monthly active customers, 80,000 retail outlets and over 100,000 merchants nationwide. JazzCash offers a broad portfolio of branchless banking services for customers, including travel, ticketing, entertainment, money transfer, bill payments, debit card, insurance, savings, and payments for a wide variety of services.
JazzCash was launched in 2012 as MobiCash by Mobilink (now Jazz) in partnership with Waseela Bank, which was later renamed as Mobilink Microfinance Bank. In 2016, MobiCash was renamed as JazzCash.
In 2020, JazzCash partnered with Payoneer to provide freelancers with a solution that would allow them to withdraw funds from their Payoneer account through their JazzCash wallet.Currently, more than one lac such accounts has been linked to JazzCash.
For more information, please get in touch with:
Khayyam Siddiqi
Head of External Communication, Jazz
Khayyam.siddiqi@jazz.com.pk
+92 300 111 5855
Twitter: @mkhayyams
About Mastercard (NYSE: MA)
www.mastercard.com Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
