NewTech Friday: Jingle Pay - A financial superapp for the expats
Amir Fardghassemi is the Founder and CEO of Jingle Pay, a money app for the underserved expat community in the United Arab Emirates. He tells us more about the different features of the app and the company's geographical expansion.
Amir Fardghassemi is the Founder and CEO of Jingle Pay, a money app for the underserved expat community in the United Arab Emirates. He tells us more about the different features of the app and the company's geographical expansion.
What led to the creation of Jingle Pay?
The financial superapp was created to address an important gap in the market that led to the financial exclusion of the underserved. We aim to boost financial inclusion by providing accessible and transparent payment services through a user-friendly digital experience. Jingle Pay was conceived by expats for expats. We understand the hurdles, time constraints, and extra costs that people might face with accessibility to financial services. Therefore, we made it easy for users to sign up within a few minutes using their smartphone to store, spend and send their money instantly free of fees.
Also, the app’s features reflect the purpose behind Jingle Pay’s creation. One of our most prominent features is Jingle Pay’s world-first remittance marketplace. When creating this feature, we considered the important role remittances play in advancing financial inclusion. Expats consistently support their families and send their hard-earned money back home. Therefore, Jingle Pay aimed to simplify this whole process for the masses, while providing them with a seamless and secure way to send money free of charge.
Could you present Jingle Pay's offer?
First, we offer our users an AED account free of fees, paperwork, and with zero commitments, to reliably store, spend and send money to 160+ countries, in 99+ currencies, and at the best exchange rates – all through a user-centric mobile experience. We do not require any minimum balance nor salary for a user to maintain an account with Jingle Pay. Additionally, we are regulated by the Dubai Financial Services Authority to ensure our users are provided with secure, regulated and reliable financial services.
Second, as mentioned earlier, our most prominent feature is our ‘world-first remittance marketplace’. Through this feature, users will be able to make international money transfers instantly to 160+ countries in 99+ currencies from the comfort of their homes. However, the most striking aspect of this feature is that it allows users to cross-check different rates across multiple money transfer providers. In other words, in a single interface, they’ll be able to compare and select the best rates in real time and/or they can select a brand over another based on their preference. Not only that, but we also offer users multiple convenient options for sending money – allowing them to make various types of transfers to bank accounts, cards, mobile wallets, or thousands of cash pickup agents globally. In short, our world-first remittance service will provide our users the convenience, comfort, and means to save money while remitting their money back home.
Third, our peer-to-peer feature allows users to send and request money instantly and free of charge – all they need is a mobile number. Users can also add a personalized message with emojis to make the process of sending and requesting money less awkward.
Fourth, our split-bill feature allows users to split expenses with multiple Jingle Pay accounts easily. They can select multiple people from their contact list to share expenses with, while informing them of the total amount of the bill.
What's coming next for Jingle Pay?
An exciting piece of news is that we will be live in Bahrain, Egypt and Pakistan very soon. We also aim to expand geographically to cover the MENAP region.
Additionally, we aim to continuously develop features that simplify the daily financial needs of the masses. Jingle Pay users can look forward to the smart-detailed analytics feature empowered by artificial intelligence, which will provide user-centric interactive insights through money stories. This feature will help users track and better understand their spending habits. Also, our physical and virtual cards will be live next. Users will be able to make borderless digital payments using Jingle Pay’s numberless cards by Mastercard; what makes those cards even more appealing is that they come in neon pink and matt black.
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