JazzCash, CDNS, Pakistan’s largest investment and financial institution, have agreed to collaborate on disbursement and collection solutions.
JazzCash, a subsidiary of Jazz and a member of the VEON Group, and CDNS will collaborate to improve payment solutions for over four million people, including widows and senior citizens, under the umbrella of “digital financial inclusion.”
JazzCash, Pakistan’s leading fintech, and the Central Directorate of National Savings (CDNS), Pakistan’s largest investment and financial institution, have agreed to collaborate on disbursement and collection solutions.
JazzCash users will be able to receive profits in their mobile wallets and digitally purchase national savings certificates via the JazzCash app.
“Our collaboration with CDNS is a testament to our commitment to improving the lives and livelihoods of consumers through technology. This collaboration is critical in demonstrating how digital payment solutions help to save money and time while providing convenience to the end user,” said Murtaza Ali, Head of JazzCash, at the signing ceremony.
“We are excited to partner with JazzCash, the largest digital wallet app in the country, to enable CDNS to achieve its vision of financial inclusion,” said CDNS Director General Hamid Raza Khalid.
“Our department is fully committed to becoming a vibrant and digitally integrated entity that serves millions of our citizens.” National Savings is Pakistan’s largest investment and financial institution, with a portfolio of over Rs. 3.4 trillion and over 4 million valued investors served through a large network of 376 branches nationwide managed by 12 Regional Directorates of National Savings (RDNS).
JazzCash is a mobile financial service in Pakistan that allows users to make payments, transfer money, and access a range of financial services through their mobile phone. The service is provided by Jazz, a Pakistani telecom company, and is available to users of both prepaid and postpaid mobile plans.
Users can access JazzCash through a mobile app or by dialing a USSD code on their phone. The service allows users to pay bills, make purchases, send and receive money, and access other financial services such as loans and insurance. JazzCash also provides a range of business solutions for merchants, including the ability to accept digital payments and access financial services.