MoneyGram International and Jingle Pay, a financial super-app, have partnered to make international money transfers easy and quick with the Jingle Pay app.
Jingle Pay’s global payment rails and near-real-time capabilities will be used by MoneyGram to transfer money to more than 200 countries and territories.
Additionally, MoneyGram has disclosed that it has completed a minority investment in Jingle Pay, giving it a 12% ownership position in the company. To aid in steering and coordinating Jingle Pay’s forward strategic direction, MoneyGram Chairman and CEO Alex Holmes has joined Jingle Pay as Chairman of the Board of Directors.
According to Holmes, “investment in digital companies throughout the globe is a vital component of our strategy” as “customer choice continuously changes online.” “We’re thrilled to collaborate with Jingle Pay as we share their confidence in the company’s long-term plan to revolutionize the core components of the banking industry with its suite of cutting-edge digital products and services.” “Our leadership position in the Middle East will be strengthened, and our strategic aims to lead the development of digital payments will be accelerated by MoneyGram’s direct ownership in the firm as it grows.”
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Jingle Pay intends to expand more
The United Arab Emirates (UAE) plays a pivotal role in international commerce, given that it is home to about 9 million expatriates (or around 89% of the population). In an effort to promote financial inclusion, Jingle Pay is focusing on international residents in the area by offering a wide range of convenient financial services, such as multi-currency cards and money transfers.
Jingle Pay CEO and co-founder Amir Fardghassemi described Jingle Pay as a “super-app” that is changing the way people manage their money. Our partnership with MoneyGram extends our network of global remittance destinations and allows us to tap into MoneyGram’s remittance clearing expertise.
The Jingle Pay app is now available in UAE.
About MoneyGram International, Inc.
MoneyGram International, Inc. is a global leader in the evolution of digital P2P payments and delivers innovative financial solutions to connect the world’s communities. With a purpose-driven strategy to mobilize the movement of money, a strong culture of fintech innovation, and leading customer-centric capabilities, MoneyGram has grown to serve over 150 million people in the last five years.
The company leverages its modern, mobile, and API-driven platform and collaborates with the world’s top brands to serve consumers through its direct-to-consumer digital channel, global retail network, and embedded finance business for enterprise customers. MoneyGram is also a leader in pioneering cross-border payment innovation and blockchain-enabled settlement.
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About Jingle Pay
Jingle Pay is a UAE-born financial super-app that empowers its users with a fast digital account, free of fees and zero commitments, to reliably store, spend, and send money to 160+ countries, in 99+ currencies, at the best exchange rates globally. Jingle Pay’s operations extend across the MENAP region, with a presence in the UAE, Bahrain, Pakistan, and Egypt.