MICROCAPITAL BRIEF: JazzCash Mobile Money Users in Pakistan to Gain Access to Merchants Accepting Visa Cards

JazzCash, a mobile money service of Pakistan-based cellular phone network Mobilink, and Visa, a US-based payment technology company, recently announced that JazzCash Mobile Account customers will be able to make purchases from the millions of merchants worldwide that accept Visa payment cards, including approximately 50,000 retail outlets in Pakistan.

As of January 2016, Visa reported total assets of USD 55.0 billion, return on assets of 15.8 percent and operations in 200 countries and territories. As of the same date, Mobilink reported approximately 38 million subscribers.

By Kevin van den Brink, Research Associate

About Visa Incorporated

Visa is a payments technology company that is based in the United States. It partners with financial institutions to provide consumers with credit, debit and prepaid cards that can be used at merchants in 200 countries. Visa also offers payment programs and consulting services for commercial clients. As of January 2016, Visa reported total assets of USD 55.0 billion and return on assets of 15.8 percent.

About JazzCash

JazzCash, formerly known as MobiCash, is a Pakistan-based digital finance provider that was founded by Mobilink and the Mobilink Microfinance Bank. Mobilink has approximately 38 million subscribers in about 140 countries.

Sources and Additional Resources

[1] Techjuice, News, “Visa to offer debit cards to millions of micro financial services users in Pakistan

MicroCapital Universe Profile: Visa Incorporated

MicroCapital Universe Profile: JazzCash

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