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Jingle Pay, a UAE-based financial super app that provides money services, has announced a strategic partnership with Mastercard to deliver innovative digital payment solutions that drive financial inclusion.
Jingle Pay users can now enjoy the power and scale of the MasterCard network, which includes more than 90 million merchants worldwide. 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.
JK Khalil, General Manager, Mena East Cluster, Mastercard, said: “We are delighted to be joining forces with Jingle Pay as we harness the power of innovation and technology to work to connect 1 billion people to the digital economy by 2025. Fintech companies like Jingle pay Playing a vital role in supporting the UAE’s digital transformation process, this partnership will further ensure that more people can enjoy the safety and convenience of digital payments as we work towards universal inclusion.
financial inclusion
The UAE’s Federal Authority for Competitiveness and Statistics reported that around 1.7 million people in the UAE remain unbanked. The partnership between Jingle Pay and Mastercard solidifies their commitment to drive financial inclusion through the power of digital payments. Jingle Pay caters to the underserved expat community, supporting them with a feature-rich financial super app.
Through its world-first in-app money transfer marketplace, Jingle Pay also allows users to instantly send money to over 160 destinations in over 99 currencies at the best exchange rates. Through a partnership with Mastercard, Jingle Pay now opens up new ways for users to spend across the global network, creating a borderless experience.
Amir Fardghassemi, founder and CEO of Jingle Pay, said: “Jingle Pay is changing the way users access financial services quickly and easily. We are committed to expanding digital financial services to the world’s underserved populations to improve safety and equality “Our partnership with Mastercard furthers our financial inclusion endeavors. It builds on our unique money transfer and remittance capabilities to provide users with a more powerful and easier way to spend money with the Jingle Pay mobile app. “
Seamless In-App Experience
Jingle Pay users get free spending accounts, virtual or physical prepaid cards – all wrapped into an intuitive, seamless in-app experience. Jingle Pay is focused on simplifying the everyday financial lives of young people who are looking for innovative and easy-to-use ways to spend.
According to the Mastercard New Payments Index, over 66% of UAE users have increased their use of at least one digital payment method in the last year. The financial super-app attracts young expats who often send their hard-earned cash back to their home countries. Through this partnership, Jingle Pay expands its services beyond borderless money transfers, allowing its users to spend globally. Jingle Pay’s mission of financial inclusion aligns with the UAE’s vision to build a cashless society and expand secure digital payment methods. — trade arab news agency
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