JazzCash recently published its third-quarter 2026 financial results. Consequently, the financial services business recorded a massive 67.6% year-on-year increase in revenue. This revenue reached a staggering PKR 43.4 billion by the quarter ending September 30, 2026. Moreover, the company posted a net profit of PKR 6.8 billion during this specific period. Profit before tax surged by an incredible 296.8% to hit PKR 8.9 billion. But these massive JazzCash Q3 profits are as much suspicious as they are impressive.
JazzCash Posts Staggering Q3 Profits
The official figures show tremendous growth across the board. For instance, the gross transaction value (GTV) jumped 79.2% to PKR 6.9 trillion. Active customers also rose 15.6%, reaching 30.4 million users. Furthermore, active merchants reached 957,100, which represents a 121.9% increase.
Here is a detailed breakdown of the third-quarter financial results:
| Financial Metric | Q3 2026 Result | Year-on-Year Growth |
| Total Revenue | PKR 43.4 billion | 67.6% |
| Profit Before Tax | PKR 8.9 billion | 296.8% |
| Net Profit | PKR 6.8 billion | Significantly higher |
| Gross Transaction Value (GTV) | PKR 6.9 trillion | 79.2% |
| Payments & Transaction Revenue | PKR 9.73 billion | 67.8% |
| Credit-Related Revenue | PKR 26.1 billion | 60.3% |
| EBITDA | PKR 13.84 billion | 137.2% |
| Active Customers | 30.4 million | 15.6% |
| Branchless Banking Accounts | 65 million | 21.6% |
Additionally, digital lending emerged as another major growth driver. JazzCash issued more than 230,000 nano-loans per day during the quarter. Subsequently, the overall gross loan portfolio increased 51.9% year-on-year to PKR 134.6 billion.
But… Did Gambling Money Fuel These Profits?
These financial numbers look incredibly impressive. However, we must ask a very genuine and important question. Has JazzCash used gambling and betting money to raise these massive profits?
Recently, the Federal Investigation Agency (FIA) uncovered a staggering PKR 120 billion digital gambling syndicate. Criminals routed a jaw-dropping PKR 119.93 billion directly through local digital payment channels. Notably, just five branchless collection accounts processed PKR 8.586 billion across 10.5 million individual transactions.
Following this discovery, JazzCash completely shut down or suspended over 100 aggregator accounts. Some accounts were closed directly via FIA notices. Meanwhile, internal panic reviews flagged and suspended the rest. These specific aggregator channels handled massive transaction volumes. Therefore, sources confirmed that their sudden closure will significantly damage JazzCash’s upcoming annual earnings.
A Complete Lack of Transparency
As a responsible tech publication, TechJuice tried to investigate this matter thoroughly. When JazzCash closed these 100 aggregator accounts, TechJuice explicitly reached out to the company for a formal explanation. However, JazzCash gave absolutely no response at all.
For now, JazzCash and Easypaisa have completely suspended payment collection services for all payment aggregators. This ongoing suspension directly stems from the FIA’s strict instructions regarding illegal online gambling and suspicious financial transactions. Online gambling platforms have now lost access to two major digital payment channels.
The company generated PKR 3.2 trillion in chargeable gross transaction value during the third quarter. Conversely, the FIA investigations exposed billions flowing continuously through illicit gambling channels. Regulators now treat mobile wallet intermediaries as the frontline in combating illicit financial flows. Therefore, the industry must seriously question the true source behind these surging transaction volumes and unprecedented quarterly profits.
