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| Formerly | MobiCash (2012–2016) |
|---|---|
| Company type | Private |
| Industry | Mobile financial services |
| Founded | November 29, 2012; 12 years ago (2012-11-29) |
Key people | Aamir Ibrahim (CEO) |
| Products |
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| Parent | Jazz |
| Website | jazzcash |
JazzCash, formerly known asMobiCash, is a Pakistanimobile wallet,mobile payments, andbranchless banking services provider. It was launched in November 2012 as MobiCash by Mobilink (nowJazz) in partnership with their subsidiary bankMobilink Microfinance Bank.
It also provides digital payment service throughQR code in partnership withMasterpass.
JazzCash was founded in 2012 as MobiCash byMobilink (nowJazz) as ajoint venture with Waseela Bank, which was later renamed asMobilink Microfinance Bank. In 2016, MobiCash was rebranded as JazzCash following the unification of Mobilink and Warid under the Jazz brand.[1]
In 2020, JazzCash partnered withPayoneer to enable users to withdraw funds from their Payoneer accounts directly through their JazzCash wallets to facilitate Pakistani freelancers.[2] More than one of such accounts have been linked to JazzCash.[3]
By mid-2020, JazzCash had exceeded eight million monthly active mobile account users. In the previous twelve months, it processed around 900 million transactions with a total value of approximately PKR 1.7 trillion.[4] By June 2024, the platform reported over 11 million active app users and a registered user base of about 44 million. It also maintained a nationwide network of more than 245,000 agents and 300,000 merchants, with over 30% of users being female.[5] In 2024, JazzCash partnered with DGPays to enhance itse-commerce payment gateway. During the first three quarters of 2024, it processed more than 110 million transactions through its merchant network, reflecting significant growth in online payments.[6]
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| Central bank | |||||
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| Commercial banks |
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| Microfinance | |||||
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| House building | |||||
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| Foreign banks | |||||
| Defunct banks | |||||
| See also | |||||
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