Financial app Jingle Pay, a provider of money services in the Middle East, North Africa and Pakistan, has joined forces with Arab Financial Services (AFS), a digital payments solutions provider and fintech enabler in the Middle East and Africa (MEA).
So what? The pair say that they can now deliver “…unique digital payments and exceptional customer experience in the Kingdom of Bahrain.” It will expand Jingle Pay’s footprint in the region and “…simplify the everyday financial lives of the masses.”
Jingle Pay serves the lives of young adults who are seeking an instant, accessible and user-friendly application to service their daily financial needs. It provides expatriates with the world-first remittance marketplace.
Moved to tears, or moved to the door? You cringe everytime companies use the phrase “…customer experience…”, but it makes the point. The test of this of course will be what the app users think. Fintechs live and die by growing user numbers, and this deal with AFS should boost the reach. Not sure about the phrase “…financial lives of the masses…” though. Lets hope the masses will be pleased.
In Bahrain, Jingle Pay app users will have access to:
- instant account opening;
- multi-currency cards;
- instant and fee-free money transfers to over 160 countries and some 99 currencies;
- P2P payments including splitting bills;
- AI-embedded financial analytics.
Amir Fardghassemi, Chief Executive Officer of Jingle Pay said: “Through this strategic collaboration, Jingle Pay will operate as the digital financial technology arm of AFS’s mobile consumer business. AFS will provide end-to-end support in Bahrain for prospective Jingle Pay users, from digital onboarding to the processing of transactions made using the Jingle Pay app. Ultimately, customers can look forward to free and instant account opening accompanied by various instant payment and money transfer services, one of which is Jingle Pays world-first remittance marketplace, which allows users to send money to over 160 countries at the best exchange rates”
Samer Soliman, AFS Chief Executive Officer, added: “Part of AFS’s success and expansion strategy is built on partnering with market disrupters with the aim of creating innovative solutions that bridge gaps in more traditional offerings present in today’s payment ecosystem. This has proven to have a significant impact on our local and regional economy and further develops and enhances the mechanics of the financial services industry.”
Jingle Pay said that by offering free and instant activation of digital multi-currency accounts, it focuses on financial inclusion through simplifying daily financial lives – aligned with the UN’s 2030 Sustainable Development Goals (SDG) for increased financial inclusion worldwide.
In their own words, AFS is licensed as an Ancillary Service Provider by the Central Bank of Bahrain, and majority-owned by Bank ABC. It boasts numerous ground-breaking end-to-end digital payment services and solutions. These span debit, credit, and Islamic card processing, merchant acquiring, Fintech, and a suite of state-of-the-art value-added services. Providing the highest quality payments solutions that are trusted by businesses, AFS has offices and data centers in Bahrain, the UAE, and Oman. Its dedication to innovation has positioned AFS as a driving market force delivering a rich portfolio of payment solutions including popular digital mobile wallets, market-leading merchant acquiring services, Bahrain’s leading digital payroll solution, cloud contact centers and more.
Jingle Pay is a MENAP financial super-app, which empowers its users with a fast digital account, free of fees and zero-commitments, to reliably 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.