Jazzcash Partners with JS Bank for Direct Debit Service
Telecom-backed mobile wallet JazzCash offers multiple financial services such as money transfer, bill payments and money transfers etc. As JazzCash looks towards expanding their business and reach, they have partnered with JS Bank to launch the first ever direct debit service.
This agreement with JS Bank allows JazzCash and consequently Jazz Users the liberty to function direct debit conveniently. It uses the same platform pf payments such as JazzCash and it users who have an account JS Bank can user it to purchase goods and other online services.
When users make a payment, the users of JazzCash will be redirected to JS Bank Internet Banking Interface in order to complete the payment. What makes this unique, is that it removes the need for the user to enter Credit/Debit card details and authorize the transactions.
Direct Debit is one of the most convenient mediums of payments available, yet Pakistan has not benefitted from this medium as much as it should. With its in-depth use in bill payments, the digitization of financial services in Pakistan seems to be on the rise and only time will tell whether this initiative proves to be successful or not.