MoneyGram International, Inc., a global leader in the evolution of digital P2P payments, and Jingle Pay, a financial super-app based in the United Arab Emirates (UAE), today 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.

Additionally, MoneyGram has disclosed that it has completed a minority investment in Jingle Pay, giving it a 12% equity position in the company. The chairman of MoneyGram, Alex Holmes, has joined the Jingle Pay Board of Directors to assist direct the company’s strategic future.

“As consumer preference increasingly shifts online, investing in digital startups around the world is a critical component of our strategy,”

“We’re excited to partner with Jingle Pay, as we believe in their strategic vision to improve the key elements of traditional banking through its suite of innovative digital offerings. As the startup continues to grow, MoneyGram’s direct ownership in the company will strengthen our leading position in the Middle East and further accelerate our strategic goals to lead the evolution of digital payments.”

                                                                                      Alex Holmes, chairman, MoneyGram.

The UAE, a center of international trade, is home to about 9 million expatriates, who make up about 89% of the total population and are a major source of remittances sent abroad. 1 Jingle Pay, which focuses on financial inclusion, specifically targets ex-pats in the area and gives them access to a wide range of readily available financial services, including its multi-currency card and money transfer services.

“Jingle Pay is the super-app transforming the daily financial lives of consumers seeking accessible, instant, and innovative money services,”

“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 to store, spend and send money while furthering financial inclusion and low-cost remittance corridors.”

                                                          Amir Fardghassemi, Founder and CEO of Jingle Pay.