KARACHI: JazzCash, a leading Pakistani fintech organization, on Monday announced its partnership with Emirati financial services provider, du Pay, for cross-border payments.
The signing of a memorandum of understanding (MoU) marked the “first-ever” collaboration between a Pakistani fintech organization and du Pay to simplify the transfer of payments from the United Arab Emirates (UAE) to Pakistan, according to JazzCash.
The Gulf nation hosts a vast Pakistani expatriate community and holds the distinction of being the second-largest contributor of remittances to Pakistan after Saudi Arabia, with $548 million transferred to Pakistan in March alone.
Aamir Ibrahim, CEO of Jazz, the parent company of JazzCash, said remittances from Pakistani expats were vital to Pakistan and this collaboration would help ensure these contributions had a lasting impact on Pakistan’s economic stability.
“We are committed to using technology to enhance financial inclusion,” Ibrahim was quoted as saying in a JazzCash statement. “Our partnership with du Pay simplifies payments for Pakistanis everywhere, emphasising our role in boosting economic growth.”
du Pay, licensed by the UAE central bank, offers a diverse suite of services, including international money transfers, peer-to-peer (P2P) transfers, mobile top-ups, bill payments, and salary deposits through an IBAN, according to the statement.
As strategic allies, both firms will be exploring new avenues of cooperation, leveraging their strengths to drive innovation and expand JazzCash’s footprint in the UAE markets.
“As a leading digital telco, we are committed to delivering exceptional services and solutions to our customers, and we believe this partnership between du Pay and JazzCash, a leading mobile money operator in Pakistan, will ensure streamlined customer experience with great benefits,” said Fahad Al Hassawi, CEO of du.
“du Pay will offer a simplified and secure digital service that will advance financial inclusion and positively impact the lives of Pakistani nationals.”
