Mastercard partners with Pakistani firm

A fin-tech firm in Pakistan has  partnered with Mastercard to strengthens the payments ecosystem for merchants and customers in the country.

JazzCash, with a customer base of over seven million, is Pakistan’s leading digital wallet. The new tie-up will allow merchants to accept digital payments from customers, digitise their supply chain, and move to cashless operations.

This is  the first such arrangement in Pakistan, claims the company. Merchants and consumers who sign up for JazzCash can 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 convenient manner.

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.

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.”

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, a statement from JazzCash said.

"There is clearly scope in Pakistan for JazzCash to accelerate its recent growth while improving financial inclusion.”