Amsterdam and Dubai, October 25, 2024 – VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam: VEON), a global digital operator, today announced a strategic partnership between JazzCash, its financial services arm in Pakistan, and Dgpays, a prominent financial infrastructure technology provider in the EMEA region. The collaboration aims to elevate JazzCash’s e-commerce payment gateway, significantly enhancing transaction speed, security, and fraud prevention, thereby creating a superior experience for both merchants and consumers across Pakistan.
The surge in digital wallet adoption is fueling the growth of cashless payments in Pakistan. The number of digital wallet transactions increased by 134% year-on-year, reaching 269 million in the year ending June 30, 2024, and now accounts for 87% of all online e-commerce payments. JazzCash, with a network of over 1,700 e-commerce merchants across diverse sectors, reported a 150% year-on-year increase in transactions, processing over 110 million transactions in the first three quarters of 2024.
“At JazzCash, we are dedicated to empowering businesses—from microentrepreneurs to SMEs—by providing financial tools that support their growth in an increasingly digital economy,” said Murtaza Ali, President of JazzCash. “Pakistan’s e-commerce sector is experiencing unprecedented growth, and our upgraded payment gateway will help thousands of e-commerce merchants streamline transactions, simplify the checkout process, and enhance security.”
Dgpays’ CEO and Founder, Serkan Omerbeyoglu, added, “We are excited to partner with JazzCash to bring our advanced payment gateway solutions to Pakistan’s dynamic fintech market. Our focus at Dgpays is on building scalable, innovative payment infrastructures that allow businesses to grow while enabling secure and seamless customer transactions. Together with JazzCash, we’re enhancing digital payment capabilities in a region primed for growth and driving financial inclusion.”
The enhanced payment gateway will introduce faster transaction processing, a comprehensive merchant management system, customizable checkout pages, and advanced fraud prevention features. This partnership aligns with JazzCash’s commitment to advancing Pakistan’s digital payment ecosystem, making online payments simpler and more secure and supporting the country’s transition towards a cashless society.
About JazzCash
JazzCash, Pakistan’s leading fintech provider, has over 44 million registered users, 245,000 agents, and more than 350,000 registered businesses. It offers a wide range of financial services, including payments, lending, insurance, and government-to-public payments. For more information, please visit: www.jazzcash.com.pk.
About Dgpays
Dgpays is a B2B Fintech Platform as a Service company supporting banks, fintech companies, non-financial institutions, mobile network operators, and government entities. Shareholders include EBRD, Truffle Capital, Isbank, Dogus Group, and Endeavor Catalyst Fund. More details at www.dgpays.com.
About VEON
VEON is a digital operator serving nearly 160 million customers in six countries, aiming to transform lives through technology-driven services that empower individuals and drive economic growth. Headquartered in Amsterdam, VEON is listed on NASDAQ and Euronext. For more information, visit www.veon.com.