JazzCash has reached 1.9 million merchants on its network who are enabled with interoperable Raast QR payments. This figure represents a significant increase from the start of 2026, when the number of such merchants was fewer than 1 million.
Murtaza Ali, CEO of JazzCash, said the company aims to reach a target of 2 million interoperable Raast QR-enabled merchants by the end of 2026. The shift toward digital payments is gaining momentum among microentrepreneurs and small merchants across Pakistan.
Interoperable QR payments are serving as a primary driver for this adoption, allowing customers from different banks and payment providers to use a common infrastructure. These QR payments have lowered cost barriers for hardware-based acceptance for home-based businesses, salons, and corner shops.
The State Bank of Pakistan’s Raast instant payment infrastructure supports the Prime Minister’s Cashless Economy Initiative, which seeks to reduce national reliance on cash. Ali noted that small, thin-margin merchants weigh any upfront cost carefully, and trust comes down to when settlement lands.
Digital transactions generate records of business activity that can facilitate access to formal credit for these merchants. Ali stated the next challenge is moving beyond payment acceptance to using transaction data for merchant lending and working-capital products.
The CEO also predicted that financial services will likely become increasingly conversational through AI interaction, though he warned, "The more AI we bring in, the more robust our security has to be." JazzCash currently serves 64 million registered customers.
"The more AI we bring in, the more robust our security has to be," said Murtaza Ali.
Murtaza Ali
