350,000 businesses’ smartphones transformed into POS machines: JazzCash

KARACHI: JazzCash, Pakistan’s leading fintech platform, has launched its latest feature, ‘Tap-Pay for Businesses’, enabling over 350,000 businesses across the country to accept payments through their Android smartphones, stated a press release on Monday.

This cutting-edge feature allows businesses to seamlessly receive payments from any contactless debit or credit card or another smartphone with a simple tap on the businesses’ NFC-enabled device.

President of JazzCash Murtaza Ali said, “Our goal is to empower both customers and businesses. With Tap-Pay, we aim to enhance Pakistan’s payment ecosystem with innovative solutions that are not only relevant but also accessible to all. This is a significant milestone as we continue to lead the way in digital financial inclusion and redefine how small businesses manage transactions.”

As of Q3 of FY 2023-24, over 47 million debit and credit cards are in circulation in Pakistan, and the State Bank of Pakistan (SBP) reported card purchases on POS machines totalling Rs394 billion during the same period. By enabling businesses using JazzCash to tap into this market, the fintech platform is opening new revenue streams for businesses and fostering greater financial inclusion, stated the press release.