JazzCash, the digital financial services arm of VEON, announced that it has onboarded its 1 millionth Raast‑QR‑enabled merchant in Pakistan. The milestone, reached by Behbud Crafts, expands the company’s payment acceptance network to include a wide range of corner shops, micro‑entrepreneurs and online businesses, further embedding digital transactions into everyday commerce.
The achievement comes on the back of a 58 million‑customer base and a 2025 transaction volume of PKR 15 trillion—about 13 % of Pakistan’s GDP. JazzCash’s merchant count grew from roughly 700,000 in November 2025 to 1 million, a 43 % increase in less than a year, underscoring the rapid pace of its network expansion.
JazzCash’s advantage is amplified by its integration with Raast, the State Bank of Pakistan’s national instant payment system, and its QR‑based payment capability. While competitors such as Easypaisa also offer QR payments, JazzCash’s deep telecom infrastructure and recent acquisition of 190 MHz of spectrum in March 2026 position it to deliver faster, more reliable services across the country.
The milestone is a key component of VEON’s “digital operator” transformation, which seeks to leverage telecom assets to offer a broader ecosystem that includes entertainment, healthcare and AI‑driven services. The company’s $20 million investment in Mobilink Microfinance Bank in January 2026 and its continued focus on digital banking further reinforce this strategy.
Management highlighted the significance of the achievement. “We commend the Prime Minister Shehbaz Sharif and the State Bank of Pakistan for their clear vision to promote digital payments, financial inclusion, and economic transparency. Through JazzCash, VEON proudly supports this national agenda, expanding access to secure and convenient financial services that empower individuals and businesses alike. Pakistan’s progress toward a cashless economy is essential for its growth, and an example for other countries driving financial inclusion,” said Kaan Terzioglu, CEO of VEON Group. Aamir Ibrahim, CEO of JazzWorld and JazzCash Chairman, added that the platform is enabling seamless digital payments for neighborhood shops and mission‑driven organizations.
The 1 million‑merchant milestone signals a significant step toward a cashless economy, expanding financial inclusion and reinforcing JazzCash’s position as a dominant QR‑payment platform. It also aligns with the national agenda to promote digital transactions, positioning VEON to capture further growth opportunities in Pakistan’s frontier market.
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