JazzCash has closed more than 100 aggregator accounts following directives from the Federal Investigation Agency (FIA), according to sources familiar with the development.
The accounts were reportedly shut down in response to FIA notices, while other accounts were flagged and suspended by JazzCash during an internal review of its aggregator network.
The development comes as Pakistani authorities increase scrutiny of digital payment channels over their alleged links to illegal financial activities.
JazzCash shuts down 100+ aggregator accounts
Sources said the affected aggregator accounts were generating significant revenue for JazzCash. Their closure could therefore affect the company’s earnings and transaction volumes in the coming year, particularly because aggregator-linked transactions accounted for a notable share of its overall transaction activity.
The move follows similar disruption involving Easypaisa, where transactions processed through merchant and payment intermediary channels recently faced settlement delays at several payment firms. However, Easypaisa’s regular wallet services and person-to-person transfers continued to operate.
FIA investigates alleged illegal financial networks
The actions are reportedly linked to a wider FIA investigation into the alleged use of mobile wallets, bank accounts and cryptocurrency channels for illegal online gambling and digital hawala activities.
In September 2026, the FIA investigated eight suspects allegedly connected to six gambling platforms. Authorities reportedly traced transactions worth around Rs119.93 billion, equivalent to approximately $433.5 million.
Investigators also found that around Rs8.586 billion had moved through nearly 10.5 million transactions involving five branchless banking collection accounts.
The findings have increased pressure on fintech companies and payment service providers to strengthen transaction monitoring and compliance measures.
SBP tightens rules for payment intermediaries
The development also follows the State Bank of Pakistan’s stricter regulatory framework for payment intermediaries and aggregators introduced in May 2026.
The framework includes requirements related to documentation, foreign exchange compliance and monitoring of financial flows, with the aim of improving transparency and preventing misuse of payment systems.
The Pakistan Telecommunication Authority has also taken action against illegal digital platforms, including blocking 46 illegal gambling and unregulated trading applications.
What the JazzCash account closures mean
The closure of more than 100 aggregator accounts highlights growing regulatory scrutiny of intermediaries operating within Pakistan’s digital payments ecosystem.
For JazzCash, the shutdowns could result in lower aggregator-related transaction volumes and revenue. For the wider fintech sector, the development signals increased pressure on payment providers to strengthen customer verification, transaction monitoring and compliance systems.
Authorities are expected to continue examining digital payment channels as investigations into alleged illegal financial networks progress.
