Veon flags JazzCash growth, warns of turbulence ahead - Mobile World Live

Veon flags JazzCash growth, warns of turbulence ahead

31 MAR 2020

Operator group Veon reported an increase in monthly active users for Pakistan mobile wallet JazzCash during Q1, but warned quarantine measures in the country would hamper further immediate progress.

In a trading update, the company said it expected to book a total of 700,000 additional monthly active users on JazzCash during Q1, which would take its total to 8 million, a 50 per cent year-on-year increase.

Veon added during the quarter its subsidiary Jazz noted “stronger engagement” with the wallet proposition after expanding the scope of the product. Upgrades included the launch of “key remittance services” aimed at freelance workers and enhanced link-ups with other financial services providers.

With Pakistan currently the subject of restrictions on movement due to the ongoing Covid-19 (coronavirus) pandemic Veon warned wallet growth in the immediate future would be adversely impacted.

However, it added it had “already seen a strong increase of top-ups and bundle purchases through JazzCash” during the current public health situation.

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Chris joined the Mobile World Live team in November 2016 having previously worked at a number of UK media outlets including Trinity Mirror, The Press Association and UK telecoms publication Mobile News. After spending 10 years in journalism, he moved...

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