Jingle Pay Receives Minority Investment from MoneyGram

Jingle Pay and MoneyGram partners
Jingle Pay and MoneyGram partners

MoneyGram International, Inc. (NASDAQ: MGI), a global leader in the evolution of digital P2P payments, made a minority investment in Jingle Pay, a financial super-app based in the United Arab Emirates (UAE).

Alex Holmes, MoneyGram Chairman and CEO, has joined the Jingle Pay Board of Directors as Chairman.

The two companies also announced a partnership to enable global money transfers through the company’s app. Consumers in the UAE can use the 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.

Led by Amir Fardghassemi, Founder and CEO, Jingle Pay is a financial super-app, which empowers its users with a fast digital account, free of fees and zero-commitments, to 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 presence in the UAE, Bahrain, Pakistan and Egypt.

The app is now live in the UAE.

FinSMEs

06/10/2022