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DUBAI, United Arab Emirates, Oct. 11, 2022 /PRNewswire/ — Jingle Pay, a super currency app providing cash services in the Middle East, North Africa and Pakistan (MENAP) region, has signed a strategic partnership with Arab Financial Services (AFS), the leading provider of virtual payment responses and Fin-Tech facilitator in the Middle East and Africa (MEA). Jingle Pay and AFS will join forces to offer exclusive virtual bills and an exceptional experience for visitors to the Kingdom. of Bahrein. La partnership expands Jingle Pay’s footprint in the region by simplifying the daily monetary life of the masses.
Jingle Pay, MENAP’s monetary superapp, provides expats with the world’s leading remittance market. In 2022, according to the World Bank, “officially registered remittance flows to low- and middle-income countries (LMICs) are expected to increase by 4. 2 percent this year to a turnover of $630. “1 TOBahrain, Jingle Pay app users will need to open an account instantly, multi-currency cards, instant and no-charge cash transfers to over 160 countries and over 99 currencies, P2P invoices that add invoice splitting, AI-integrated monetary analysis, in addition to other value-added services
Amir Fardghassemi, CEO of Jingle Pay, said: “Through this strategic collaboration, Jingle Pay will function as the virtual fintech arm of AFS’s mobile customer business. AFS will provide end-to-end Jingle Pay users in Bahrain, from virtual integration to processing transactions made with the Jingle Pay app. Ultimately, customers can expect a loose, instant account opening accompanied by various instant payment and cash movement services, one of which is Jingle Country, the world’s leading remittance marketplace, which allows users to send cash to more than 160 countries at the most productive exchange rates. “
Samer Soliman, CEO of AFS, commented: “Part of AFS’s good fortune and expansion strategy is based on partnering with market disruptors to create cutting-edge responses that fill gaps in the most classic offerings offered in today’s invoice ecosystem. Significant impact on our local and regional economy and more develops and improves the mechanics of the financial services industry.
Jingle Pay aims to make life less difficult for young adults looking for an instant, available, and easy-to-use app to meet their daily monetary needs. The International Fund for Agriculture and Development, a firm of the United Nations, states: “One billion other people in the world. . . are affected by remittances. Every year, two hundred million migrant workers send cash home and 800 million others. . . They take advantage of these flows. 2 As a result, Jingle Pay has developed its first cut leading the global remittance market while detecting the key role remittances play in contributing to GDP and achieving equity in the source of income at MENAP.
While exploring the influence of Fin-Tech platforms in reducing currency disparities in the MENA region, Aiyub Dawood, senior correspondent, says that “beyond tech hub cities like Dubai, Abu Dhabi, Riyadh and Manama, the region is home to 85 million of the world’s two billion unbanked adults. 3 Similarly, the World Bank reports that in Pakistan, 81. 9% of young adults had no bank accounts in 2021. 4 bills made through adults after COVID-19 lockdowns. The report concludes that the digitalization of the monetary sector drives monetary inclusion. 5
By providing loose and instant activation of multi-currency virtual accounts, Jingle Pay focuses on monetary inclusion by simplifying monetary life, in line with the United Nations’ 2030 Sustainable Development Goals (SDGs) for greater monetary inclusion worldwide.
About AFS:
Licensed as an ancillary service provider through the Central Bank of Bahrain and majority-owned through ABC Bank, AFS provides many revolutionary end-to-end virtual payment facilities and responses. Set of value-added facilities. Providing the highest quality payment answers businesses rely on, AFS has offices and knowledge centers in Bahrain, the United Arab Emirates and Oman. payment responses, adding popular virtual mobile wallets, market-leading merchant sourcing facilities, Bahrain’s leading virtual payroll solution, cloud contact centers, and more.
About Jingle Pay
Jingle Pay is a super currency app from MENAP, giving its users a fast, no-cost and no-obligation virtual account to reliably store, spend and send cash in over 160 countries, in over 99 currencies, at the most productive time. global exchange rate. Jingle Pay operations span the entire MENAP region with a presence in the United Arab Emirates, Bahrain, Pakistan and Egypt. For more information, visit jinglepay. com and follow us on @JinglePay on social media.
[1] https://www. worldbank. org/en/news/press-release/2022/05/11/remittances-to-reach-630-billion-in-2022-with-record-flows-into-ukraine [2] https://www. ifad. org/en/web/latest/-/12-reasons-why-remittances-are-important[3] https://www. fastcompanyme. com/technology/millions-in -the-middle-east-are-unbanked-can-fintech-platforms-change-that/[4] https://www. worldbank. org/en/topic/financialinclusion/overview[5] https://blogs. worldbank. org/developmenttalk/unveiling-global-findex-database-2021-five-charts
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Media Contact:Jingle Pay Media ContactProf. Christian Fariolimedia@jinglepay. com
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