MoneyGram Powers Fintech Startup Jingle Pay with A Partnership

On Oct. 4, MoneyGram International, Inc., a global digital P2P payments, and Jingle Pay, a financial app based in the United Arab Emirates (UAE), announced a partnership to enable convenient and fast global money transfers through the Jingle Pay app. Consumers in the UAE can use the Jingle Pay app – powered by MoneyGram's global payment rails and near real-time capabilities – to send money to over 200 countries and territories around the world.

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​MoneyGram has also announced the completion of a minority investment in Jingle Pay, giving MoneyGram an approximate 12% equity stake in Jingle Pay. Alex Holmes, MoneyGram Chairman and CEO, has joined the Jingle Pay Board of Directors as Chairman to help guide Jingle Pay's strategic path forward.

"Jingle Pay is the super-app transforming the daily financial lives of consumers seeking accessible, instant and innovative money services," said Amir Fardghassemi, Founder and CEO of Jingle Pay. "Our partnership with MoneyGram extends our network of global remittance destinations and allows us to tap MoneyGram's remittance clearing expertise. It gives our users global coverage and cost-effective rates. At Jingle Pay, we are committed to reinventing how people store, spend and send money, while furthering financial inclusion and low-cost remittance corridors."

Source: MoneyGram