Digital remittances key to financial inclusion, says leading Pakistani fintech

KARACHI: Affordable and technology-driven remittance solutions are a great enabler for financial inclusion and transparency for millions of Pakistani households, said the head of a leading digital financial services platform, JazzCash, according to a statement on Thursday.

Murtaza Ali, chief executive officer of JazzCash, represented Pakistan at the IAMTN Summit 2025 (October 8-9) in Dubai, which brought together global policymakers, fintech innovators, and cross-border payment specialists to discuss how technology is reshaping the global remittance ecosystem.

Speaking at a session titled ‘Empowered Leadership -- Scaling Global Remittances Through Innovation and Inclusion’, Murtaza said Pakistan’s remittance story is evolving from one of convenience to one of empowerment.“Digital remittances today go beyond the transfer of money -- they are connecting millions to the formal economy, fostering transparency and driving inclusion,” he told participants.

Pakistan recorded a record remittance inflow of $38.3 billion in FY 2024-25, placing it among the top recipient countries globally. An increasing portion of these funds now passes through digital channels, fuelled by the growing adoption of mobile wallets, regulatory reforms, and partnerships between global money transfer operators and local fintech players such as JazzCash.

Murtaza said JazzCash has processed 4.7 million remittance transactions so far this year and is on track to close around 7 million by year-end. The platform also supports Pakistan’s largest freelancer base, with more than 600,000 users receiving international payments digitally. Nearly one-third of JazzCash’s users are women, who utilize these inflows for household needs, education, and small business operations.

He emphasised that beyond numbers, digital remittances represent human stories -- “the son’s promise to his parents, the freelancer’s pride in earning across borders, and the mother’s relief when money arrives safely.”

Industry participants at the summit noted that Pakistan’s digital financial services sector is among South Asia’s most dynamic, driven by smartphone penetration, reduced transaction costs and strong regulatory oversight.

However, they cautioned that sustaining growth will require continued collaboration among regulators, banks, and fintech providers. Echoing this sentiment, Murtaza said, “Trust remains the real currency of remittances. Leadership in this space must rest on integrity, compliance and innovation that genuinely improve lives.”