VEON’s JazzCash Partners with Dgpays to Enhance e-Commerce in Pakistan
JazzCash, VEON's financial services arm in Pakistan, has partnered with Dgpays to modernize its e-commerce payment gateway. The collaboration aims to enhance transaction speed, security, and fraud prevention capabilities across Pakistan. Digital wallet transactions in Pakistan grew 134% year-on-year to 269 million, representing 87% of online e-commerce payments. JazzCash, serving over 1,700 e-commerce merchants, processed over 110 million transactions in Q1-Q3 2024, marking a 150% year-on-year increase. The upgraded gateway will feature faster transactions, merchant management systems, customizable checkout pages, and advanced fraud prevention tools.
JazzCash, la divisione dei servizi finanziari di VEON in Pakistan, ha collaborato con Dgpays per modernizzare il suo gateway di pagamento per l'e-commerce. L'obiettivo della collaborazione è migliorare la velocità delle transazioni, la sicurezza e le capacità di prevenzione delle frodi in tutto il Pakistan. Le transazioni tramite portafogli digitali in Pakistan sono cresciute del 134% su base annua, raggiungendo 269 milioni, rappresentando l'87% dei pagamenti online per l'e-commerce. JazzCash, che serve oltre 1.700 commercianti di e-commerce, ha elaborato oltre 110 milioni di transazioni nel Q1-Q3 2024, registrando un aumento del 150% rispetto all'anno precedente. Il gateway aggiornato offrirà transazioni più veloci, sistemi di gestione per i commercianti, pagine di checkout personalizzabili e strumenti avanzati per la prevenzione delle frodi.
JazzCash, la división de servicios financieros de VEON en Pakistán, se ha asociado con Dgpays para modernizar su pasarela de pago de comercio electrónico. La colaboración tiene como objetivo mejorar la velocidad de las transacciones, la seguridad y las capacidades de prevención de fraudes en todo Pakistán. Las transacciones de billeteras digitales en Pakistán crecieron un 134% interanual, alcanzando los 269 millones, representando el 87% de los pagos en línea para el comercio electrónico. JazzCash, que sirve a más de 1,700 comerciantes de comercio electrónico, procesó más de 110 millones de transacciones en el Q1-Q3 2024, marcando un aumento del 150% interanual. La pasarela mejorada contará con transacciones más rápidas, sistemas de gestión de comerciantes, páginas de pago personalizables y herramientas avanzadas de prevención de fraudes.
JazzCash는 파키스탄의 VEON 재정 서비스 부문으로, Dgpays와 협력하여 전자상거래 결제 게이트웨이를 현대화하고 있습니다. 이번 협력은 파키스탄 전역에서 거래 속도, 보안 및 사기 예방 기능을 향상시키는 것을 목표로 하고 있습니다. 파키스탄의 디지털 지갑 거래는 지난해 대비 134% 증가하여 2억 6900만 건에 달하며, 이는 온라인 전자상거래 결제의 87%를 차지합니다. JazzCash는 1,700개 이상의 전자상거래 상점에 서비스를 제공하며, 2024년 1분기부터 3분기까지 1억 1천만 건 이상의 거래를 처리하여 지난해 대비 150% 증가했습니다. 업그레이드된 게이트웨이는 더 빠른 거래, 상인 관리 시스템, 맞춤형 결제 페이지 및 고급 사기 예방 도구를 제공할 것입니다.
JazzCash, la branche des services financiers de VEON au Pakistan, a établi un partenariat avec Dgpays pour moderniser sa passerelle de paiement pour le commerce électronique. Cette collaboration vise à améliorer la vitesse des transactions, la sécurité et les capacités de prévention des fraudes à travers le Pakistan. Les transactions de portefeuilles numériques au Pakistan ont augmenté de 134 % d'une année sur l'autre, atteignant 269 millions, représentant 87 % des paiements en ligne pour le commerce électronique. JazzCash, qui dessert plus de 1 700 commerçants en ligne, a traité plus de 110 millions de transactions au cours du premier au troisième trimestre de 2024, marquant une augmentation de 150 % par rapport à l'année précédente. La passerelle mise à jour offrira des transactions plus rapides, des systèmes de gestion des commerçants, des pages de paiement personnalisables et des outils avancés de prévention des fraudes.
JazzCash, die Finanzdienstleistungssparte von VEON in Pakistan, hat sich mit Dgpays zusammengeschlossen, um ihr E-Commerce-Zahlungsgateway zu modernisieren. Ziel der Zusammenarbeit ist es, die Transaktionsgeschwindigkeit, die Sicherheit und die Betrugspräventionsmöglichkeiten in Pakistan zu verbessern. Die Zahl der digitalen Wallet-Transaktionen in Pakistan ist im Jahresvergleich um 134 % auf 269 Millionen gestiegen und macht 87 % der Online-Zahlungen im E-Commerce aus. JazzCash bedient über 1.700 E-Commerce-Händler und bearbeitete im Zeitraum Q1-Q3 2024 über 110 Millionen Transaktionen, was einem Anstieg von 150 % im Jahresvergleich entspricht. Das aktualisierte Gateway wird schnellere Transaktionen, Händlerverwaltungssysteme, anpassbare Checkout-Seiten und fortschrittliche Betrugspräventionstools anbieten.
- Digital wallet transactions grew 134% YoY to 269 million
- JazzCash processed 110 million transactions in Q1-Q3 2024, up 150% YoY
- JazzCash serves over 1,700 e-commerce merchants
- Digital wallets account for 87% of all online e-commerce payments
- None.
Insights
The JazzCash-Dgpays partnership represents a significant development in Pakistan's rapidly evolving digital payments landscape. With digital wallet transactions showing remarkable
The integration of Dgpays' technology will likely improve merchant onboarding efficiency and reduce transaction friction, potentially accelerating JazzCash's merchant acquisition beyond its current base of 1,700 e-commerce partners. This strategic move strengthens VEON's competitive position in Pakistan's fintech sector and should contribute positively to revenue growth through increased transaction volumes and merchant adoption.
Pakistan's digital payments transformation presents a compelling growth opportunity, with digital wallets now accounting for
The timing is particularly strategic given Pakistan's push toward financial inclusion and digital transformation. By enhancing the merchant experience and transaction security, JazzCash is well-positioned to capture a larger share of the growing digital payments market, potentially driving significant value for VEON shareholders.
Amsterdam and Dubai, 25 October 2024: VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam: VEON), a global digital operator, today 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. 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.
Adoption of digital wallets is driving the growth in cashless payments in Pakistan. The number of digital wallet transactions surged
"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. For more information, please visit: www.jazzcash.com.pk.
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: www.dgpays.com.
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
Disclaimer
This release contains “forward-looking statements,” as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to, among other things, VEON’s strategy, investment plans, and partnerships. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events.
Contact Information
VEON
Hande Asik
Group Director of Communication
pr@veon.com
MHP Group
Julian Tanner
Julian.tanner@mhp.com
1 Data is sourced from the latest Payment Systems Review released by the State Bank of Pakistan, published in October 2024.
Attachment
FAQ
What is the growth rate of JazzCash transactions in 2024?
How many merchants does JazzCash (VEON) serve in Pakistan?
What percentage of online e-commerce payments in Pakistan are made through digital wallets?
Who has JazzCash partnered with to enhance its payment gateway?
