ISLAMABAD: JazzCash, Pakistan’s largest fintech platform, in collaboration with the State Bank of Pakistan (SBP), enabled interoperable RAAST QR codes for digital payments at cattle markets nationwide. This initiative facilitated secure and convenient transactions for thousands of buyers and sellers through interoperable RAAST QR codes.
The QR payments significantly digitised a portion of the cattle market, boosting financial inclusion for buyers and sellers by onboarding merchants from all 45 designated cattle markets in 16 cities identified by SBP.
“With the support of the State Bank of Pakistan, JazzCash enabled RAAST digital payments for cattle markets nationwide. Onboarding 300 merchants across 45 cattle markets, we facilitated secure digital payments for thousands,” said Murtaza Ali, Head of JazzCash.
He further added, “This is just the beginning. With policies that incentivise digital payments, we can build upon this momentum to include underserved communities and microentrepreneurs in the financial fold, eventually fostering a cashless economy.”
Buyers could pay sellers directly through JazzCash, any mobile wallet, or banking app by scanning JazzCash’s interoperable RAAST QR codes at cattle markets. This system eliminated the need for physical cash and ensured swift, secure payments. It aimed to integrate cattle farmers and merchants into the digital economy, enhancing financial inclusion for rural and semi-urban communities.
JazzCash, hosting 17 million RAAST IDs with one in every two RAAST users being a JazzCash customer, is at the forefront of digital payment adoption in Pakistan. With a vast network of over 300,000+ JazzCash merchants facilitating over Rs 15 billion in QR transactions monthly, JazzCash is leading the digital payment ecosystem.
