JazzCash, Pakistan’s leading fintech platform, has introduced its latest feature, ‘Tap-Pay for Businesses,’ empowering over 350,000 businesses nationwide to accept payments via their Android smartphones. This innovative feature allows businesses to receive payments effortlessly from any contactless debit or credit card or another smartphone by simply tapping on an NFC-enabled device.
This launch follows JazzCash’s recent rollout of the ‘Tap-Pay’ feature for customers, enabling them to make payments directly from their phones. Together, these features are set to establish a comprehensive contactless payment ecosystem in Pakistan.
Murtaza Ali, President of JazzCash, emphasized that the goal is to empower both customers and businesses. With the introduction of Tap-Pay, JazzCash aims to enhance Pakistan’s payment ecosystem through innovative and accessible solutions. This marks a significant milestone as the company continues to lead in digital financial inclusion and transform how small businesses manage transactions.
As of Q3 of FY 2023-24, Pakistan has over 47 million debit and credit cards in circulation. The State Bank of Pakistan reported Rs. 394 billion in card purchases on POS machines during the same period. By enabling businesses to leverage this market, JazzCash is opening new revenue streams and fostering greater financial inclusion.
The launch of the ‘Tap-Pay for Businesses’ feature has been made possible through strategic collaborations with Mastercard, technology partner Wizzit Holdings, and acquiring partner Bank of Punjab. These partnerships have been instrumental in developing the necessary infrastructure to bring this innovative feature to market.
