JazzCash has taken the lead in Pakistan’s mobile money market, surpassing Easypaisa’s share of users.
According to the Financial Inclusion Insights Survey 2020 by Kantar Public and Karandaaz Pakistan, 64 percent of mobile money users only use JazzCash, while 54 percent only use Easypaisa.
In addition, JazzCash has raised its share of mobile money users by ten percentage points. In contrast, Easypaisa’s share of mobile money users has declined over time, dropping by 21 percentage points between 2017 and 2020.
Although nearly 40% of mobile money users only used JazzCash, nearly a third used multiple services.
According to the survey, the Government of Pakistan (GoP) was able to achieve its 2020 target of 50 percent financial inclusion by 2018 with 63.9 million unique registered financial accounts in the country.
In addition, mobile money account ownership (registered users) in Pakistan has more than doubled, increasing from 4% of adults in 2017 to 9% in 2020.