back Back

Jingle Pay set to launch in Bahrain in collaboration with AFS

By Leandra Monteiro

October 13, 2022

  • Afs
  • Arab Financial Services
  • Bahrain
Share

Jingle Pay, AFS, Bahrain Arab Financial Services (AFS), an enabler for digital payment solutions and FinTech enabler in the Middle East and Africa, has entered into a strategic alliance with Jingle Pay, a financial super-app, to provide payment services out of Bahrain servicing GCC residents.

Jingle Pay, the Middle East, North Africa, and Pakistan (MENAP) financial super-app, provides expatriates with the world-first remittance marketplace. In Bahrain, its app users will have access to instant account opening, multi-currency cards, instant and fee-free money transfers to over 160+ countries and 99+ currencies, P2P payments including splitting bills, AI-embedded financial analytics, in addition to other value-added services.

Samer Soliman, AFS Chief Executive Officer, shared, “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 focuses on simplifying the lives of young adults who are seeking an instant, accessible, and user-friendly application to service their daily financial needs. The International Fund for Agriculture and Development, a UN agency, states, “A staggering one billion people worldwide… are involved with remittance. Every year, 200 million migrant workers send money home, and 800 million people…benefit from these flows.” Accordingly, the payments company developed its innovative remittance marketplace while acknowledging the key role remittances play in contributing to the GDP and achieving income equality in the MENAP region.

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.”

Previous Article

October 13, 2022

BNY Mellon transforms cross-border payments between Egypt and China

Read More
Next Article

October 13, 2022

Farmers State Bank and Teslar Software partner to modernise lending

Read More






IBSi Daily News Analysis

May 28, 2024

Afs

Latin America becomes a hotbed for FinTech unicorns and tech innovation

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Nexi offers Tap to Pay on iPhone for merchants in Italy

Read More

Today

Newgen brings LumYn, a Gen AI-Powered Platform for Banks

Read More

May 29, 2024

Currencycloud selects Form3 for Confirmation of Payee in the UK

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023