Jingle Pay launches Emirates Mastercard for the unbanked

Jingle Pay has partnered with Mastercard to issue physical and virtual cards to users of its financial app.

Dubai-based FinTech said on Tuesday (November 29) Press release Centered on financial inclusion, the move aims to bring a new accessible digital payment solution to the currently unbanked United Arab Emirates (UAE) population of 1.7 million.

“Through this partnership, Jingle Pay will launch physical and virtual cards to facilitate everyday transactions for people, whether they have a bank account or not,” the release said.

“Fintech companies like Jingle Pay are playing a vital role in supporting the UAE’s digital transformation process and this partnership will further ensure that more people can enjoy the security and convenience of digital payments as we strive to achieve Inclusion for all,” said Mastercard Cluster General Manager, MENA East JK Khalil in a press release.

“Our partnership with Mastercard furthers our commitment to financial inclusion,” Jingle Pay founder and CEO Amir Fardghassemi said in the announcement. “It builds on our unique money transfer and remittance capabilities to give users a more powerful and easier way to spend money with the Jingle Pay mobile app.”

Fardghassemi said Jingle Pay is “committed to expanding digital financial services to the world’s underserved populations to improve security and equality”.

Fardghassemi said in a recent interview with PYMNTS that Jingle Pay’s main proposition is a remittance marketplace that allows users to shop around for the best price when sending money across borders. He said usage by the UAE’s high number of expatriates has helped drive the app’s success.

Watch the interview: Remittance Market Model Unlocks Payments Innovation for GCC Expats

Discuss integration MoneyGram cross-border payment enters Jingle Pay The platform, Fardghassemi said, “the more providers you have, and players like MoneyGram … makes the whole proposition more interesting because there are more options to choose from.”

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