Tech Desk
May 15, 2024
In a bid to "simplify payments for Pakistanis" around the globe, JazzCash has announced to partner with du Pay, the newly established fintech arm for du, from the Emirates Integrated Telecommunications Company (EITC).
Marking history as the first-ever collaborative initiative between JazzCash — Pakistan’s largest fintech organisation — and a UAE-based fintech firms, the partnership possesses the potential to cater to the money-transferring needs of expatriates residing in the UAE, considering hundreds of thousands of Pakistanis there.
After Saudi Arabia, UAE is the second-largest contributor of remittances to Pakistan, with remittances amounting $548 million as of March 2024.
Read more: inDrive partners with Vlektra, becomes first ride-hailing firm to integrate EVs into fleet
“We are committed to using technology to enhance financial inclusion. Our partnership with du Pay simplifies payments for Pakistanis everywhere, emphasising our role in boosting economic growth. Remittances from our expatriates are vital, sustaining households and powering our economy. This collaboration helps ensure that these contributions have a lasting impact on Pakistan’s economic stability,” said Aamir Ibrahim, CEO of Jazz.
The joint venture between JazzCash and du Pay in the realm of digital payments will set forth the foundations for further collaborations to ensure ease of accessibility and innovation.
Fahad Al Hassawi, CEO of du, said: "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. du Pay will offer a simplified and secure digital service that will advance financial inclusion and positively impact the lives of Pakistani nationals.”
Being potential trade partners, both the fintech firms will tap into new business avenues to strengthen friendly ties while ensuring a broader availability of JazzCash services in the UAE.
Services offered by du Pay
Licensed by the Central Bank of the UAE, du Pay envisions to offer a simplified digital financial services to a diversity of user demographics. du Pay's portfolio entails a diverse suite of services that include the following:
- International money transfers
- Peer-to-peer (P2P) transfers
- Mobile top-ups
- Bill payments
- Salary deposits through IBAN
