Barcelona and Islamabad, 4 March, 2026: Pakistan’s digital payments ecosystem is evolving from innovation to infrastructure, with Prime Minister Shehbaz Sharif’s Cashless Economy Initiative, supported by the State Bank of Pakistan’s enabling policies, driving momentum at national scale.
These views were shared by Aamir Ibrahim, Chairman of Mobilink Bank and JazzCash, during a fireside chat with GSMA Fintech Lead Brian Gorman at the Fintech and Commerce Summit, where he outlined how the government’s push to accelerate digital payments is gaining measurable traction.
The Prime Minister’s initiative focuses on expanding digital payment adoption, strengthening public digital infrastructure, and digitising government to person and person to government transactions. At its core is the objective of reducing reliance on cash, broadening documentation of economic activity, and expanding access to formal financial services.
Ibrahim noted that Pakistan’s digital financial transition is built on strong institutional foundations led by the State Bank of Pakistan. The launch of Raast, Pakistan’s instant payment system, has enabled an interoperable payments framework that connects banks and wallets across the country, allowing customers and merchants to transact seamlessly.
Within this national framework, JazzCash has emerged as one of the largest contributors to digital transaction volumes. The platform now serves nearly 58 million customers and supports more than one million Raast QR enabled merchants nationwide. In 2025, JazzCash processed PKR 15 trillion in gross transaction value, equivalent to roughly 13 percent of national GDP.
The shift is visible across the economy. Small retailers are accepting QR payments in place of cash. Salaried employees are paying bills and school fees digitally. Freelancers are receiving cross border income directly into mobile wallets. Government welfare disbursements are increasingly delivered through digital channels, reducing leakages and improving transparency.
In 2025 alone, JazzCash disbursed over PKR 100 billion in government to person payments, supporting the state’s objective of efficient and direct benefit transfers. The platform also issues more than 200,000 digital loans daily, extending regulated financial tools to micro entrepreneurs and small businesses that previously operated outside the formal banking system.
Merchant digitisation remains central to the cashless agenda. With over one million Raast QR enabled merchants and tap on phone capabilities that convert smartphones into acceptance devices, JazzCash has expanded digital payment acceptance into urban centres and smaller towns alike. Documented transaction histories are enabling merchants to formalise revenues and access working capital through regulated channels.
International flows are also reinforcing the digital shift. Pakistan recorded USD 38 billion in remittance inflows during FY25, underscoring the importance of cross border financial flows to the national economy. JazzCash processed PKR 138 billion in international remittances in 2025, enabling funds to settle directly into digital wallets, where they can be used for payments, savings, and credit.
Ibrahim emphasised that financial inclusion is not only about convenience. “Digital transactions create documentation,” he said. “Documentation strengthens transparency, improves credit access, and supports broader economic participation.”
As Pakistan advances its cashless framework, the combination of government policy, regulatory leadership from the State Bank, and private sector scale is accelerating adoption.
About JazzCash
JazzCash is Pakistan’s leading digital financial services platform, operating under a Branchless Banking charter and offering mobile wallet services in collaboration with Mobilink Microfinance Bank. It serves over 58 million customers across Pakistan. For more information, please visit: www.jazzcash.com.pk.
About JazzWorld
JazzWorld is Pakistan’s leading integrated digital ServiceCo, serving over 100 million users through a portfolio spanning connectivity (Jazz), fintech (JazzCash), banking (Mobilink Bank), entertainment (Tamasha), ultra-app (SIMOSA), insurtech (FikrFree), enterprise cloud solutions (Garaj), gaming (GameNow), health-tech (Apna Clinic), fashion marketplace (Zarr), and more. This evolution reflects Jazz’s strategic shift from connectivity to capability, enabling platforms that ensure a better life for all through the power of technology. For more information, visit: www.jazz.com.pk
About VEON
VEON is a digital operator that provides converged connectivity and digital services to nearly 150 million connectivity and 140 million digital users. Operating across five countries that are home to more than 6% of the world’s population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth. VEON is listed on NASDAQ. For more information, visit: https://www.veon.com.
Contact Information:
JazzCash
Khayyam Siddiqi
Head of Communication
Khayyam.siddiqi@jazzcash.pk
