VEON and JazzCash Team Up with Dgpays
In a significant move for the digital landscape in Pakistan, VEON Ltd. has announced a new partnership between JazzCash and Dgpays, a prominent player in financial service technology within the EMEA region. This collaboration is set to greatly enhance e-commerce transactions across Pakistan by modernizing JazzCash's payment gateway.
The Surge in Digital Wallet Usage
The adoption of digital wallets in Pakistan is witnessing remarkable growth. Over the last year, transactions through digital wallets spiked, accounting for a staggering 87% of all online e-commerce payments. For those keeping score, this translates to around 269 million transactions in total. The remarkable increase of 134% year-on-year highlights a shift towards cashless payments as consumers embrace the convenience digital wallets provide.
JazzCash's Commitment to Digital Commerce
JazzCash is dedicated to empowering every type of business—from microentrepreneurs to established startups—by providing essential financial tools to thrive in today's fast-evolving digital economy. With the e-commerce sector in Pakistan experiencing unprecedented growth, JazzCash is stepping up its game with secure and swift payment solutions. The new payment gateway is designed to streamline transactions and enhance user experience, which includes features like easier checkout processes and better security measures.
Dgpays: A Vision for Secure Transactions
Dgpays brings valuable expertise to this partnership, focusing on building scalable payment infrastructures to bolster financial activities and customer transactions. With Serkan Omerbeyoglu, the CEO and Founder of Dgpays, emphasizing the importance of this partnership, they aim to contribute to the overall advancement of digital payment capabilities in Pakistan. The collaboration between JazzCash and Dgpays reflects a shared vision of driving financial inclusion and improving the e-commerce landscape.
Enhancements to the Payment Gateway
The upgraded payment gateway will provide quicker transaction processing, an all-inclusive merchant management system, customizable checkout options, and advanced tools to prevent fraud. This technological upgrade is in line with JazzCash's mission to innovate Pakistan's digital payment ecosystem, fostering an environment where both consumers and merchants can thrive.
About JazzCash
JazzCash stands out as a leading fintech provider in Pakistan, boasting over 44 million registered users and 350,000+ businesses under its umbrella. The platform offers a full spectrum of financial services, including various payment options, lending, and insurance. JazzCash is committed to transforming how people engage with fintech and aims to make financial transactions seamless and accessible for everyone.
About Dgpays
Dgpays operates as a B2B Fintech Platform as a Service company, collaborating with a diverse range of clients, from banks to government authorities. They are focused on developing innovative solutions that meet the financial infrastructure requirements of both businesses and public institutions, reinforcing their goal to support economic growth through technology.
About VEON
VEON is recognized as a global digital operator, delivering innovative connectivity and services to nearly 160 million customers across multiple regions. With its operations stretching across six countries, VEON plays a pivotal role in enhancing lives through technology-enabled solutions that encourage both individual empowerment and economic progress. The company is publicly traded on major stock exchanges and continues to seek new ways to leverage technology for community advancement.
Frequently Asked Questions
What is the purpose of the partnership between JazzCash and Dgpays?
The partnership aims to enhance the e-commerce payment experience in Pakistan by modernizing JazzCash's payment gateway, leading to better security, speed, and user experience.
How has digital wallet usage changed recently in Pakistan?
Digital wallet transactions surged by 134% year-on-year, making up 87% of online e-commerce payments in Pakistan due to increased adoption of cashless systems.
What are the benefits of the upgraded payment gateway?
The upgraded gateway includes faster transaction speeds, increased security features, a merchant management system, and customizable checkout pages to streamline online payments.
Who are the main stakeholders involved in the partnership?
The partnership involves VEON's JazzCash and Dgpays, which work together to improve payment solutions for businesses and consumers in Pakistan's digital economy.
How does this partnership contribute to financial inclusion?
By enhancing digital payment technologies, the partnership supports a shift towards cashless transactions, ensuring more individuals and businesses can participate in the digital economy.
