VEON Unveils JazzCash Experience Lounge to Transform Payments
VEON Launches JazzCash Experience Lounge
VEON Ltd. (NASDAQ: VEON), a prominent global digital operator, has officially inaugurated the JazzCash Experience Lounge, a groundbreaking initiative designed to promote digital financial services in Pakistan. This lounge serves as an innovative platform allowing individuals to engage with the transformative functionalities of JazzCash, VEON's renowned digital financial services platform.
Empowering Financial Inclusion
JazzCash, catering to over 53 million customers, stands as Pakistan's foremost digital financial service provider. Its mission revolves around empowering underserved communities, notably women and entrepreneurs, allowing them to engage actively in the evolving digital economy. In recent assessments, JazzCash processed transactions amounting to about 9% of Pakistan's GDP, showcasing its significant impact on the national financial landscape.
Supporting Small-scale Entrepreneurs
The reach of JazzCash is impressive, featuring a network of nearly 600,000 merchants and 300,000 agents, which enhances financial access crucial for economic documentation. Additionally, the platform is pivotal in disbursing over 140,000 digital loans daily to micro-entrepreneurs, helping to fuel small-scale commerce across the region.
Significance of the JazzCash Experience Lounge
During the launch, Jameel Ahmad, Governor of the State Bank of Pakistan, emphasized the importance of the JazzCash Experience Lounge as a model for enhancing public trust in digital payment systems. It presents a clear vision of Pakistan's future—transitioning into a cashless economy guided by the government's digitalization efforts.
Statements From Leaders
Kaan Terzioglu, the CEO of VEON Group, expressed enthusiasm about the lounge, stating, "Our JazzCash Experience Lounge not only showcases our commitment to technological advancement but also symbolizes our determination to support Pakistan's governmental policies aimed at enhancing financial services through digitalization."
Aamir Ibrahim, CEO of Jazz, articulated his optimism regarding the Cashless Economy initiative led by the Prime Minister. He remarked, "The transition to a cashless economy is crucial for Pakistan’s growth and competitiveness on a global scale. Collaboration with various stakeholders will be vital to maximize technology benefits across the nation."
Interactive Features of the Lounge
The JazzCash Experience Lounge is designed as an interactive hub, providing a firsthand experience of the daily payment processes across various sectors such as fuel stations and retail outlets. Visitors can familiarize themselves with JazzCash’s interface through its consumer and merchant applications, QR code transactions, and advanced technologies like facial recognition payments and wearable devices, creating an immersive experience.
The Impact on Digital Financial Services
As of the second quarter of 2025, VEON's digital financial service platforms have attracted around 40.7 million monthly active users, which underscores their immediate relevance and substantial contribution to the economies of the markets they serve. Notably, JazzCash, alongside other programs in countries such as Uzbekistan and Kazakhstan, processed approximately USD 43.6 billion within the last calendar year, illustrating the scope and economic influence of digital financial integration.
Participation in Global Discussions
Recently, VEON was a featured participant at the Money20/20 Middle East event in Riyadh, where executives engaged in discussions centered on how innovation and technology in digital financial services benefit various stakeholders, including consumers, businesses, and governments.
About VEON
VEON is an international digital operator providing services to over 150 million connectivity customers and nearly 120 million active digital users monthly. With operations across multiple countries, VEON enables significant advancements, enhancing individual lives through technology-driven services that propel economic growth.
About JazzCash
JazzCash operates under a Branchless Banking charter and offers mobile wallet services through Mobilink Microfinance Bank. With its extensive customer base of 53 million, JazzCash provides a diverse array of financial services, facilitating payments, lending, insurance, and dispersing welfare and government payments.
Frequently Asked Questions
What is the JazzCash Experience Lounge?
The JazzCash Experience Lounge is an interactive center aimed at demonstrating the benefits and functionalities of digital financial services in Pakistan.
How many customers does JazzCash serve?
JazzCash serves over 53 million customers, making it the leading digital financial service provider in Pakistan.
What impact does JazzCash have on the economy?
In 2024, JazzCash processed transactions equivalent to roughly 9% of Pakistan's GDP, showcasing its vital role in the economy.
Who attended the inauguration of the Experience Lounge?
The launch was attended by significant figures including the Governor of the State Bank of Pakistan and executives from VEON and JazzCash.
What technologies are showcased in the JazzCash Experience Lounge?
The lounge features technologies such as facial recognition payments, palm verification, and mobile payment interfaces to enhance customer interactions.
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