Core Insights - VEON Ltd. announced that its subsidiary JazzCash has onboarded its 1 millionth Raast QR-enabled merchant, marking a significant milestone in Pakistan's transition to a cashless economy [1][3] Group 1: Digital Payment Infrastructure - Raast is Pakistan's national instant payment system launched by the State Bank of Pakistan in 2021, enabling interoperability across the financial sector and promoting digital payment tools [2] - JazzCash has established the largest digital payment acceptance network in Pakistan, facilitating digital transactions for various types of businesses, including corner shops and online retailers [3] Group 2: Economic Impact - JazzCash serves a registered customer base of 58 million and processed over PKR 15 trillion (approximately USD 53 billion) in transaction value in 2025, representing about 13% of Pakistan's GDP [8] - The onboarding of 1 million QR-enabled merchants is seen as a crucial step in integrating digital payments into the daily lives of Pakistanis, supporting small businesses and enhancing the digital economy [7] Group 3: Leadership and Vision - Kaan Terzioglu, CEO of VEON, commended the efforts of the Prime Minister and the State Bank of Pakistan in promoting digital payments and financial inclusion, emphasizing the importance of a cashless economy for national growth [6] - Murtaza Ali, CEO of JazzCash, highlighted the focus on making financial services accessible and relevant for all Pakistanis, reinforcing the commitment to support small businesses and women-led enterprises [7] Group 4: Company Overview - VEON is a digital operator providing connectivity and digital services to nearly 150 million users across five countries, aiming to transform lives through technology-driven services [11] - JazzCash operates under a Branchless Banking charter, offering a wide range of services including payments, lending, and government-to-person payments, thereby enhancing financial inclusion in Pakistan [12]