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JazzCash has announced the formal launch of a world class Online Payment Gateway poised to play a major part in the imminent e-commerce boom in Pakistan. The move further strengthens the role it has played in bringing innovation to the Branchless Banking sector in Pakistan.
The year 2016 was another landmark for JazzCash as it introduced several innovative products and services that contributed to the overall economy of the country. JazzCash launched the pilot of its Online Payment Gateway earlier this year and had been working with a number of merchants to develop the best merchant and customer experience.
This service enables merchants to accept payments through variety of channels including Credit / Debit Card, Mobile Account and Voucher Payments in turn providing convenience to customers to pay for their online purchase.
Pakistan’s E-Commerce industry is currently dominated through Cash on Delivery (COD) as the payment channel. COD has its challenges for the online merchants including delay in the realization of funds and financial costs associated with return orders, cash in transit insurance, theft / extortion etc. COD therefore impacts the financial stability of the merchants. Prepayments through JazzCash Online Payments Gateway enables merchants to overcome these challenges and in-turn benefit the customers.
Not only this, the online escrow feature offered by JazzCash is the first of its kind in Pakistan. With the escrow feature enabled, customers can now shop online with complete confidence as their money will be safe until they are satisfied with the delivered product.
The unique feature of JazzCash Escrow is its complete automation, where the customer can raise a dispute just by logging into an online portal in comparison to the lengthy manual & paper based processes in place with other Escrow Enabled payment gateways in the market.
“As the business world embraces the ongoing digital revolution, E-Commerce sales are growing rapidly, and with them, online payments. In such an environment, JazzCash aims to facilitate E-Commerce merchants and their customers with its Online Payment Gateway. Apart from being convenient, secure and swift it offers other unique features such as a fully automated Escrow option which sets it apart from other offerings in the market,” said Aniqa Afzal Sandhu, VP Digital & Mobile Financial Services – Mobilink.
For E-Commerce merchants, JazzCash strives to be the payment gateway of choice. It offers merchants with the quickest onboarding and integration through platform specific plugins, dedicated integration and support teams, merchant portal for real time transaction visibility and other productive offerings.