Sunday, April 14, 2024

JazzCash Overtakes Easypaisa as the Leading Mobile Money Market

By surpassing Easypaisa’s share of mobile money users in Pakistan, JazzCash takes the lead in the mobile money market.

According to Kantar Public and Karandaaz Pakistan’s Financial Inclusion Insights Survey 2020, 64 percent of mobile money users said they only used JazzCash, while 54 percent said they only used Easypaisa.

Furthermore, JazzCash’s share of mobile money users has increased by ten percentage points. Easypaisa’s share of mobile money users, on the other hand, has decreased over time, dropping by 21 percentage points from 2017 to 2020.

It’s also worth noting that while nearly 40% of mobile money users only used JazzCash, nearly a third used multiple services.

The report also claims that with 63.9 million unique registered financial accounts in the country, the Government of Pakistan (GoP) was able to meet its 2020 goal of 50% financial inclusion by 2018.

In addition, mobile money account ownership (registered users) has more than doubled in Pakistan, rising from 4% of adults in 2017 to 9% in 2020.

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