Islamabad: JazzCash, Pakistan’s leading fintech platform, has launched a Buy Now, Pay Later (BNPL) service, offering a convenient alternative to traditional credit cards. The service is initially available for retail purchases at Telemart, an electronics shopping platform, and the fashion brand EGO. It will soon expand to include leading brands such as MBasics, Alkaram, Dune London, and others.
The BNPL service enables customers to divide their payments into three easy installments over 60 days, enhancing affordability and flexibility in the current economic climate. With over 45 million JazzCash users, the platform aims to revolutionize the shopping experience while driving incremental revenue for its partner brands.
“Our goal at JazzCash is to bring innovative solutions relevant to Pakistan’s market, for both customers and businesses,” said Aamir Aftab, Chief Product Officer at JazzCash. “BNPL offers people increased purchasing power, allowing them to manage their finances more flexibly while helping businesses attract more customers with simple payment options.”
Unlike traditional credit products, JazzCash’s BNPL service is designed for inclusivity, requiring neither employment history nor a formal bank account. This approach makes the service accessible to a large unbanked segment of society.
Customers can access BNPL by scanning a QR code at the checkout counter. The service includes a 15% service fee applied at the point of purchase, with a 10% late fee imposed if the second or third installment is delayed beyond 30 days.
The introduction of BNPL is part of JazzCash’s broader strategy to innovate and expand its suite of financial services. The fintech giant recorded a 58% increase in overall transaction value in 2024, driven largely by digital payments. The BNPL service further reinforces JazzCash’s position as a leader in Pakistan’s evolving fintech landscape.
