JazzCash, Pakistan’s leading fintech, has integrated, PayFast, Pakistan’s indigenous payment gateway that has received full commercial approval from the State Bank, in order to strengthen the country’s digital payments ecosystem. Through this partnership, JazzCash’s vast merchant ecosystem will receive payments from their customers via bank account numbers, mobile wallets, and debit/credit cards. This will be accomplished through PayFast, which will enable multi-instrument payment methods for JazzCash’s customers.
JazzCash is Pakistan’s leading fintech with over 13 million monthly active customers, 80,000 retail outlets and of 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.
PayFast, a product of Avanza Premier Payment Services (APPS), enables payment acceptance for various entities such as E-commerce merchants and retailers, freelancers, corporations and billing entities. It additionally provides greater transaction security to end-users through due diligence, PCI-DSS certification and industry-standard fraud detection.
“At JazzCash we aim to cultivate a cashless payments ecosystem and have introduced innovative products and services to better serve our 13 million users, including our merchants. We are glad to have partnered with PayFast to introduce a wider variety of payment options, ensuring financially secure and efficient transactions to benefit our overall merchant base,” said Murtaza Ali CFO of JazzCash.
Syed Adnan Ali, Chief Executive Officer of APPS, said, “We are proud to go live with JazzCash as it is a reliable and modern digital banking services that allows a considerable portion of the unbanked sector to avail financial services.”
Through such synergies, JazzCash and PayFast are set to transform Pakistan’s payments industry by simplifying access to digital payments and driving financial inclusion to the unbanked population.