Bank Alfalah Partners With Jingle Pay For Fintech Growth

Bank Alfalah has acquired a 9.9% equity stake in Jingle Pay, one of the fastest-growing fintech companies in the MENAP region. The bank said this move highlights its focus on digital banking and financial inclusion in important markets.

Jingle Pay is known for its smart technology and uses artificial intelligence. Last year, the firm said it handled over two million transactions and helped send more than $1 billion across countries. Reports show that the company saved customers over $6 million in fees during the same year.

Jingle Pay recently won the award for the best global fintech in remittances to Pakistan. The company said this honor reflects its success in providing unique financial services to its customers.

Leading Global Investors Support Jingle

Jingle Pay has gained support from top investors around the world, including MoneyGram, G42-backed Applied AI, and well-known U.S. venture capital firms. The company said these investors have also worked with famous companies like PayPal and N26, highlighting the trust investors have in Jingle Pay’s future.

Bank Alfalah’s decision to partner with Jingle Pay signals a strong partnership aimed at improving financial technology. Jingle Pay said it will use the bank’s resources to enhance its ability to handle cross-border payments and digital banking solutions.

Jingle Pay offers services such as multi-currency accounts, instant transfers, and card payments. It also allows payouts in over 99 currencies and across 150 corridors. The company said its remittance-as-a-service platform helps other financial firms provide smooth international money transfers.

Jingle Pay Shares Its Plans For Pakistan

Jingle Pay has announced plans to bring digital banking services to Pakistan early this year. Its app, which will not require physical branches, aims to provide easy financial services to people who do not have access to banks. The company said this effort will be supported by Bank Alfalah’s strong network.

The partnership between Jingle Pay and Bank Alfalah is expected to strengthen cross-border payment systems, boosting Jingle Pay’s impact on remittances. Currently, Jingle Pay is Pakistan’s fifth-largest remittance partner, helping drive global money flows that contribute to the country’s economy.

Farooq A. Khan, Group Head of Bank Alfalah, said the acquisition is a key move in digital banking. He noted that the partnership with Jingle Pay will improve financial services and help millions of users.

Amir Fardghassemi, founder of Jingle Pay, said the collaboration will help the company grow and support its vision of financial inclusion. He stated that combining Jingle Pay’s technology with Bank Alfalah’s resources will bring better cross-border financial solutions.

With more than 1,000 branches across Pakistan and offices in the UAE, Bahrain, and Afghanistan, Bank Alfalah has become a leader in financial services. The bank said its alliance with Jingle Pay will strengthen its role in global money transfers and digital innovation.