ISLAMABAD: The Special Technology Zones Authority (STZA) has granted a ‘Zone Enterprise’ licence to JazzCash to run its technology operations from Tech 7 Special Technology Zone, a stateof-the-art Science and Technology Park based in the federal capital.
The STZA is an autonomous federal regulator and enabler for special technology zones (STZs), operating under the Cabinet Division, with a mandate to enable, licence and regulate the STZs and technology enterprises housed within to promote and expand Pakistan’s knowledge and technology economy domestically and globally.
JazzCash Chief Product Officer Aamir Aftab said Tech 7 provides a base within a zone designed for the kind of innovation our platform depends on, and the STZA framework supports the long-term investment we’re making to serve our growing customer base.
‘It gives our developers the environment to keep building innovative solutions, from the infrastruc-ture behind our Raastenabled interoperable QR network to our digital lending products, which already reach millions of merchants and borrowers every day,’ he added.
Financial technology now sits at the heart of information technology, artificial intelligence, cloud computing, agri-tech, business process outsoureing and high-tech production, enabling commerce, payroll, tax collection and small-business credit.
A press statement noted thattheSTZAandJazzCash are strategically aligned to bolster Pakistan’s technology ecosystem by integrating regulatory enablement with digital financialinfrastructure.
The STZA establishes the fiscal terms and licencing frameworks essential for long-term tech investment, while JazzCash bringsthe digitalfinancial services infrastructure and reach that underpin Pakistan’s shift toward a cashless economy.
JazzCash operates the nation’s largest digital payment acceptance infrastructure, with its Raast QR network now stretching across 1.7 million merchant locations nationwide.