Dubai Startup Jingle Pay Targets the Middle East With Digital Neobanking Services
Dubai-based fintech startup Jingle Pay is bringing neobanking to the Middle East, starting with its home turf of the UAE. The neobank has been formulated in response to what digitally-native Gen Z and millennial audiences want from banking – such as responsive services, extremely low transfer fees, transparency and no restrictions such as minimum balance requirements.
Jingle Pay is the brainchild of Amir Fardghassemi, an ex-hedge fund manager and fintech startup founder; and Nadeem Hussein, founder of Telenor bank and EasyPaisa in Pakistan. The founding team has 50+ years of experience in card issuance, card payments, digital banking, payments, micro and nano financing, e-Wallets, and running fintech start-ups with successful exits in the MENA region.
Jingle Pay brings elements of social payments to mobile wallets backed by cash accounts for instantaneous payments and easy money transfers to friends and family. It combines the best of consumer banking and payments with social elements, creating a seamless ecosystem of intuitive engagement.
“We’re seeing tremendous demand for a new way of offering banking services in the Middle East. Bricks and mortar banks don’t have the immediacy of response that a new generation of always-connected consumers want. And though we’re seeing conventional banks move to digital, there are gaps in user-friendliness and joyful engagement that we want to address.