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VEON’s JazzCash strengthens Pakistan’s payments ecosystem with Mastercard partnership

VEON, Amsterdam, paymentsAmsterdam-based VEON, a global provider of connectivity and digital services, announced the partnership between JazzCash and payment technology company Mastercard. The collaboration aims to strengthen the payments ecosystem for merchants and customers in Pakistan.

VEON has mentioned that over 7 million customers and merchants use JazzCash every month, making it Pakistan’s leading digital wallet. The partnership with Mastercard will allow merchants to accept digital payments from customers, digitise their supply chain, and move to cashless operations.

VEON’s co-CEO Sergi Herrero stated, “The COVID-19 pandemic is highlighting the need for digital payments, more than ever before. 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. In the future, with a young and fast-growing population of more than 200 million, there is clearly scope in Pakistan for JazzCash to accelerate its recent growth while improving financial inclusion.”

Merchants and consumers who sign up for JazzCash wallet will be able to 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.

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.”

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.

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