VEON Ltd, a global digital operator, announced that JazzCash, the financial services arm of Jazz, VEON’s digital operator in Pakistan, has signed an agreement with Dgpays, a leading financial infrastructure technology provider in the EMEA region.
Read also – Funding Wrap of The Week | Asian Startups Funding Roundup | October 20 – October 25
This partnership will enable JazzCash to modernize its payment gateway for e-commerce transactions, enhancing transaction speed, security, fraud prevention capabilities, and the overall experience for both merchants and consumers across Pakistan.
Read also – Malaysia-based KWAP Invests $50 Mn in Cyan Renewables
Adoption of digital wallets is driving the growth in cashless payments in Pakistan. The number of digital wallet transactions surged 134% year-on-year to 269 million for the 12 months ended 30 June 2024, accounting for 87% of all online e-commerce payments . JazzCash, which currently serves over 1,700 e-commerce merchants across a wide array of sectors, has delivered accelerated growth as well, processing over 110 million transaction sin the first three quarters of 2024, an increase of 150% year-on-year.
“At JazzCash, we are dedicated to empowering businesses, from microentrepreneurs to startups and SMEs, with the financial tools they need to thrive in an increasingly digital economy. As Pakistan’s e-commerce sector undergoes unprecedented growth, JazzCash is committed to providing secure, seamless, and swift payment solutions. Our new payment gateway will enable thousands of e-commerce merchants to accelerate their growth by streamlining transactions, simplifying checkout, and enhancing security,” said Murtaza Ali, President of JazzCash.
“We are pleased to partner with JazzCash to bring our advanced payment gateway solutions to Pakistan’s dynamic fintech market. At Dgpays, we focus on building innovative, scalable payment infrastructures that empower businesses to grow and customers to transact securely and seamlessly. By collaborating with JazzCash, we are enhancing digital payment capabilities and driving financial inclusion in a region poised for immense growth,” said Serkan Omerbeyoglu, CEO and Founder of Dgpays.
The upgraded payment gateway will offer faster transactions, a comprehensive merchant management system, customizable checkout pages, and advanced fraud prevention tools. This partnership and technology upgrade aligns with JazzCash’s broader mission to advance Pakistan’s digital payment landscape. By empowering businesses with the latest payment technologies, JazzCash is driving financial inclusion, simplifying online payments, and continuing to lead the country toward a cashless society.
About JazzCash
JazzCash, Pakistan’s leading fintech player, has over 44 million registered users, over 245,000 registered agents, and 350,000+ registered businesses. JazzCash offers a broad portfolio of financial services for customers, including payments, lending, insurance, government to public payments for various services.
About Dgpays
Dgpays is an international B2B Fintech Platform as a Service company that works with banks, fintech companies, non-financial institutions, mobile network operators and government entities such as transportation authorities. Among Dgpays shareholders are EBRD – European Bank for Reconstruction and Development, Truffle Capital, Isbank, Dogus Group and Endeavor Catalyst Fund
About VEON
VEON is a digital operator that provides converged connectivity and digital services to nearly 160 million customers. Operating across six countries that are home to more than 7% of the world’s population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth. Headquartered in Amsterdam, VEON is listed on NASDAQ and Euronext.
