Startup Pakistan’s Post

easypaisa has launched a Raast-based QR code payment feature in its app to facilitate the buying and selling of sacrificial animals for Eid-ul-Azha. This initiative, supported by the State Bank of Pakistan's (SBP) QR payment system, aims to simplify and secure transactions during this economically significant period, where approximately PKR 376 billion worth of animals were sacrificed last year. The new feature allows easypaisa and other digital wallet users to effortlessly send and receive payments at selected cattle markets by scanning QR codes. Shahmeer Nadeem, Head of Product Management at easypaisa, emphasized the company's commitment to promoting financial inclusivity and digitizing traditional cash transactions in line with SBP's vision. With over 40 million registered accounts, easypaisa continues to lead in transforming Pakistan's financial services sector. #easypaisa #EidulAzha #QRPAYMENTS #Raast #DigitalBanking #StateBankOfPakistan #FinancialInclusion #PakistanEconomy #MobilePayments #CashlessTransactions #CxONews #CxOGlobalForum

Excited to share insights from Money20/20 where CEO Aamir Ibrahim highlighted JazzCash's pivotal role in pioneering financial inclusion across Pakistan. At Jazz, our vision is clear: to enhance the lives and livelihoods of Pakistanis through digital and #financialinclusion. From redefining accessibility to championing gender-inclusive financial services, JazzCash goes beyond transactions to catalyze change and build a brighter, more equitable future for all. Through strategic partnerships and technological breakthroughs, JazzCash has become a lifeline for those previously excluded from traditional banking systems. But what truly defines us are the stories of impact - from the rickshaw driver in Lahore leveraging nano-loans to the student in Swat empowered by digital transactions. With plans for interoperability, insurtech ventures, and embedding financial services into everyday transactions, JazzCash is at the forefront of Pakistan's financial revolution. We aim to continue to empower communities and drive meaningful change.

CEO Jazz, Aamir Ibrahim shared the transformative journey of JazzCash at #mwc24 Barcelona today. With ~42% market share, JazzCash is reshaping Pakistan's economy, democratizing financial empowerment from bustling Lahore bazaars to the serene valleys of Swat. JazzCash is committed to enabling financial mobility, ensuring everyone with a mobile phone can access essential banking services. He emphasized, that the journey from physical cash to digital wallets has been incredible, aligning with the nation's shift towards a more secure, transparent financial ecosystem. Aamir highlighted how in the past 2 years JazzCash shifted gears from chasing growth to achieving profitability, marking a milestone with our first positive cash flow since inception. With a clear vision, we're not just playing the game; we're aiming to redefine it. Our roadmap includes innovations like Insurtech and embedded financial services, setting the stage for exponential growth. #DigitalPakistan #FinancialInclusion #FintechRevolution

With policy interventions that incentivise digital payments, we can accelerate the adoption of Digital Financial Services and significantly grow Digital Supply Chain Finance. The impact of such policy interventions is evident with the exponential growth in State Bank of Pakistan (SBP)’s Raast initiative where the users now stand at 35 million, with 1 in 2 Raast users being a JazzCash customer. JazzCash hosts the country’s largest merchant ecosystem, with over 300,000 payment points accepted nationwide. This is supplemented by a 245,000-strong agent network that facilitates customers with cash withdrawals and deposits. This extensive network allows us to digitise over PKR 100 billion each month, serving a customer base of 44 million. 𝘛𝘰 𝘳𝘦𝘢𝘥 𝘮𝘰𝘳𝘦, 𝘧𝘰𝘭𝘭𝘰𝘸 𝘵𝘩𝘦 𝘭𝘪𝘯𝘬 𝘪𝘯 𝘤𝘰𝘮𝘮𝘦𝘯𝘵𝘴 #DigitalPayments #FinancialInclusion #CashlessEconomy

From Lahore to Swat, JazzCash's journey: Transforming Pakistan's economy, empowering all with financial mobility, one digital wallet at a time. #MWC2024 #DigitalPakistan #EconomicEmpowerment #TechInnovation

Do you have interest in savings or interest-free savings? Jumpstart your saving journey by downloading the JazzCash App today and subscribe to Islamic Savings. Start saving more, earning more, and getting insured — all in accordance with Islamic principles✨ Kudos to Jasia Farooq and Syed Asad Rizvi on the short and sweet, no frills attached advert. #IslamicBanking #ShariaCompliant #FinancialServices #ProductMarketing

🌙 This Ramadan, pay through JazzCash QR at #Pakistan’s largest payment acceptance network with over 300k merchants to avail fantastic discounts and opportunities to win big. With State Bank of Pakistan (SBP)’s open loop #Raast QR, this largest network of Merchants will be available for every Pakistani to make QR payments, regardless of their bank or wallet service provider. With JazzCash QR payments at your disposal, there's no need to worry about cash 💸 Let’s digitise the economy and get rid of hard cash! #Financialinclusion #Fintech #DigitalPayments

Easypaisa, #Pakistan's top #digital payment platform, is introducing a Raast-based QR code payment system for the Eid-ul-Azha sacrificial animal market. This initiative aligns with the State Bank of Pakistan (SBP) Raast #instant payment service, aiming to provide secure and convenient transactions during the festive season. Given that Eid-ul-Azha generates significant #economic activity, with last year's transactions reaching PKR 376 billion, this new feature is poised to #digitize and streamline payments, enhancing both security and #user #experience. Easypaisa’s in-app QR code feature allows users, including those of other digital banking apps, to easily send and receive money at selected cattle markets. Users can scan a QR code via the app to complete transactions, enhancing security and convenience. Shahmeer Nadeem, Head of Product Management at TMB/Easypaisa, emphasized the importance of this feature in digitizing cash-intensive transactions and supporting SBP’s mission for financial inclusion. As Eid-ul-Azha approaches, Easypaisa’s innovation promises a hassle-free transaction experience, marking a significant #advancement in Pakistan’s #digital #economy. With over 40 million registered accounts, Easypaisa continues to lead the charge in transforming the country’s #financial landscape.

A groundbreaking partnership between the Punjab Information Technology Board (PITB) and JazzCash, a leader in mobile financial services, has been established to revolutionize digital payment systems in Pakistan. The agreement was formalized by PITB Additional Director General Khurram Mushtaq and JazzCash President Murtaza Ali. Centered on the PayZen Official platform, this collaboration aims to modernize payment systems by offering users more secure, transparent, and efficient transaction methods. #JazzCash will work closely with PITB to develop innovative payment solutions catering to the market's evolving needs. Key officials from both organizations attended the signing event, including PITB Project Director Haroon Rasul Khokhar, Joint Director Ijlal Hussain, and Senior Program Manager Amir Ali Khan. Representing JazzCash were Head of Public Sector Arif M Chaudhary, Regional Manager Central Public Sector Partnership Usman Nazir, Manager Partnerships Waleed Khan, Ayesha Akram, and Imran. By combining PITB's technological expertise with JazzCash's extensive reach, the two organizations are set to transform the digital payment landscape in Pakistan. #DigitalPakistan #TechUpdate

Me and my mom constantly wonder if there is any possibility to convert our household staff payroll into digital. Like doing IBFT transfer credits to staff's wallet account instead of keeping cash. But even today, I don't trust a single Fintech solution offering in Pakistan and even globally (be it a Monzo, Wise, Payoneer) even as a well educated, privileged person who can constantly ping a faceless robotic customer support system. All the savings on brick and mortar overheads like physical branches need to go towards creating robust human backend support if Fintech, Financial Inclusion is to take off in Pakistan. One part time worker I know who also did Foodpanda rider gigs had his HBL's Konnect and Easypaisa account suspended. I then helped him open an Asaan account at Meezan Bank. But even that process at branch level wasn't as asaan as is claimed in promos. UBL, Meezan's digital on-boarding for asaan accounts by contrast is promising but it requires a level of literacy that locks out the very demographic who need those easily accessible banking the most. State Bank, Pakistan's financial ecosystem's key figures should constantly wonder, try to understand why even by 2030, someone like me does not think I would be able to convert a PKR 250,000 cash payroll of 5 individuals into digitally executed payroll, and pay for maqai, tandoor naan, chai dhaba, crisp fries with ghaleez ketchup in cashless ways. New Fintech offerings, banks et al. with fancy, over the top hype, marketing won't do anything unless in major cities like Karachi, there is much more immersive hands on working on the ground to address constant pain points like the woeful automated, faceless customer support of digital only plays.