JazzCash Overtakes all of Its Competition in Pakistan Mobile Banking

JazzCash Overtakes all of Its Competition in Pakistan Mobile Banking
JazzCash Overtakes all of Its Competition in Pakistan Mobile Banking

Jazzcash has finally crossed Telenor’s Easypaisa in Mobile Banking and has become leader in the race to become market leader. According to report from State Bank of Pakistan, it has most active mobile account holders now.

Stats tell us that in 2016 market share of Jazzcash reached 41% for active mobile account holders as compared to its competition Easypaisa which came in second with 40%, UBL Omni stood with 15% and other players in the market had only 4%.

Because Jazz has capitalized on the mega merger between Warid and Mobilink the number of mobile account holders has also increased, additional infrastructure has proven itself to be very good.

State Bank’s report has stated that by end of September 2016, the total number of mobile accounts has increased to 16.9 million. The strength was 14.6 million just three months ago which shows 16% growth in the quarter under review. That’s an increase margin of 7 million ago.

Number of exchanges, in any case, diminished to 110.0 million amid Jul-Sep 2016 from 118.8 million in past quarter. The real decrease in the quantity of exchanges was seen in OTC exchanges, because of postponement in mass G2P installments.

BB stores additionally diminished to Rs. 8.5 billion from Rs. 13.7 billion, demonstrating an abatement of 38% contrasted with past quarter. The normal stores per account dropped to Rs. 500 toward the finish of current quarter from Rs. 942 over the past quarter because of sharp increment in the quantity of accounts and occasional surge identified with Eid celebrations falling in the time of September 2016.

Subsequently, the number and estimation of exchanges saw a decrease which might be brief in nature and prone to enhance in the following quarter.

As far as gender representation is concerned, the quantity of female clients expanded to 3.3 million amid Jul-Sep16 from 2.0 million toward the finish of past quarter. Subsequently, the share of female accounts expanded to 20% out of the aggregate 16.9 million mobile accounts.

 

Source: ProPakistani.com

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