- Mastercard has announced a new collaboration with fast money transfer application Jingle Pay, which is based in the United Arab Emirates.
- If a customer is using the Jingle Pay app at the moment, they can send cash on a real-time basis to over 160 places across the globe.
- “Fintechs like Jingle Pay are playing a vital role in supporting the UAE’s digital transformation journey, and this partnership will further ensure that more people can enjoy the safety and convenience of digital payments as we work towards inclusion for all,” said a spokesperson for Mastercard.
Mastercard has confirmed a new partnership with fast money transfer application Jingle Pay, which is based in the United Arab Emirates.
Mastercard said that it had struck up a partnership with Jingle Pay to allow the latter to use its network. The network, which has over 90 million merchants around the world on its books, is expected to give a significant boost to Jingle Pay.
It is thought that Jingle Pay intends to offer virtual bank cards, which will be available to customers who do not have access to bank accounts, as well as those who do.
It is also thought that the move will give a boost to financial inclusion policies within the UAE, where the new partnership is focused.
Currently, customers using the Jingle Pay app can send cash on a real-time basis to over 160 places across the globe.
In a statement, J.K. Khalil, the Cluster General Manager for the Middle East and North Africa East region at Mastercard, said that the firm aimed to bring a billion people into the digital economy in the next few years.
“We are delighted to join forces with Jingle Pay as we harness the power of innovation and technology in our efforts to connect one billion people to the digital economy by 2025,” said Khalil.
“Fintechs like Jingle Pay are playing a vital role in supporting the UAE’s digital transformation journey, and this partnership will further ensure that more people can enjoy the safety and convenience of digital payments as we work towards inclusion for all.”
For Jingle Pay, meanwhile, the Founder and CEO Amir Fardghassemi said that the partnership will help advance inclusion.
“Our partnership with Mastercard furthers our cause of financial inclusion,” he said.
“It builds on our unique remittance and money transfer capabilities, offering users more powerful and easier ways of spending their funds from the Jingle Pay mobile application,” he continued.
Do you want to ensure that you have all the latest information about the online money transfer sector at your fingertips? If so, our money transfer reviews pages are a good place to start and can help you get what you need.