JazzCash Plans Gulf Expansion for Remittance Growth

JazzCash, Pakistan’s leading fintech platform, is expanding its operations into the Gulf region to enhance cross-border remittance services for the Pakistani diaspora. This strategic move aligns with JazzCash’s three-year roadmap to promote financial inclusion and transition Pakistan towards a cashless economy.

JazzCash President Murtaza Ali announced a strategic partnership with UAE-based du Pay, facilitated by Western Union, to allow Pakistani expatriates in the UAE to send remittances directly to JazzCash wallets. This move aims to make cross-border transactions faster and more accessible. Murtaza also shared JazzCash’s broader innovation roadmap, including ventures into Insurtech, asset fractionalization, stock trading democratization, and expanding its digital merchant network, especially among women-led businesses.

With over 20 million monthly active users, JazzCash plays a key role in Pakistan’s shift to a digital economy, handling transactions equivalent to 9% of the country’s GDP and managing nearly half of all RAAST IDs. Murtaza praised Pakistan’s regulatory bodies for fostering innovation and highlighted VEON’s support in advancing digital financial inclusion across its markets, with its fintech operations processing $36.5 billion in gross transaction value in 2024.