JazzCash Overtakes Easypaisa as Clear Industry Leader for Active Branchless Banking Accounts

Jazzcash, the branchless banking service from Jazz, has overrun Easypaisa and other similar services for active branchless banking accounts, said a recently issued report from State Bank of Pakistan.

According to latest figures, Jazzcash operates highest number of active mobile banking accounts as compared to any other service.

State Bank report said that mobile wallets or branchless banking accounts in the country reached 23.69 million at the end of March 2017.

The central bank remarked that branchless banking accounts grew 73% as compared to same duration last year, however, almost all companies struggled with keeping these accounts active.

As a result just 11.3 million — or less than half of the entire branchless banking accounts — were active till March 31st 2017.

Jazzcash, however, showed remarkable numbers as it managed to keep majority of its branchless banking accounts active during the time.

State bank report said that out of all active branchless banking accounts, Jazzcash held 51% market-share, followed by Easypaisa with 34% market-share and then UBL with 13% market-share.

For total number of branchless banking accounts — active and inactive combined — easypaisa lead the charts with 10.7 million accounts, Jazzcash closed up and remained second with 10.1 million mobile accounts with UBL Omni having 2.5 million mobile accounts till March 31st, 2017.

Branchless Banking Account Activity

Player-wise Comparison – Total vs Active Accounts