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| Formerly | MobiCash |
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| Company type | Private |
| Industry | Mobile financial services |
| Founded | November 29, 2012; 11 years ago (2012-11-29)[1] |
| Headquarters | Pakistan |
Key people | Aamir Ibrahim (CEO)[2] Murtaza Ali (Head of JazzCash)[3] |
| Products |
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| Parent | Jazz |
| Website | www |
JazzCash, formerly known as MobiCash, is a Pakistani mobile wallet, mobile payments, and branchless banking services provider. It was launched in November 2012 as MobiCash by Mobilink (now Jazz) in partnership with their subsidiary bank Mobilink Microfinance Bank. It has a market share of 64 percent in mobile money activity.[4]
It also provides digital payment service through QR code in partnership with Masterpass.
The company, with a customer base of 44 million, has made a concerted effort to prioritise gender-intentional financial inclusion. As a result, around 29 percent of JazzCash customers are now women.[5] Under the broad ambit of digital financial services, JazzCash goes beyond payments to include critical services like savings, nano-loans, and insurance.[6] JazzCash is also the first and only nano-lender in Pakistan to offer free life and health insurance to its nano-loan customers.[7] The other most important facility provided by Jazz Cash is the introduction of the Jazz Cash Merchant Account which brought a positive impact on the businesses in Pakistan. Jazz Cash Merchant Account is a digital payment facility which ensures smooth and secure transactions of financial payments.[8]
JazzCash was launched in 2012 as MobiCash by Mobilink (now Jazz) in partnership with Waseela Bank, which was later renamed as Mobilink Microfinance Bank.[1] In 2016, MobiCash was renamed as JazzCash.[9]
In 2020, JazzCash partnered with Payoneer to provide freelancers with a solution that would allow them to withdraw funds from their Payoneer account through their JazzCash wallet.[10] Currently, more than one lac such accounts have been linked to JazzCash.[11]
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