JazzCash Imposes Fee on Cash Deposits

JazzCash, Pakistan’s largest mobile wallet, has announced a change in pricing on cash deposit into M-wallets. A notice on JazzCash website states that the cash deposit of Rs. 50 – Rs. 20,000 will now have a fee of 0.50 percent + FED while cash deposit above Rs. 20,000 will have a fee of Rs. 100 + FED. In a statement to ProPakistani, a JazzCash spokesperson said, “The State Bank of Pakistan (SBP) via circular dated May 12, 2023, provisioned a charge of 0.5% of the transaction amount, or PKR 100, whichever is lower, on cash deposit into M-wallets. Prior intimation in this regard was ensured to customers via JazzCash website and retailers were informed via SMS as well.” The transaction charges on cash deposits are applicable only at physical touch points (franchise, retailer, experience center).