This post was originally published on The FinTech Times
Bank Alfalah, a commercial bank in Pakistan with a network of over 1,000 branches, has acquired a stake in Jingle Pay, a UAE-born fintech specialising in cross-border money transfers licensed by the Dubai Financial Services Authority (DFSA).
Jingle Pay, which operates in the UAE, Bahrain and Pakistan, is one of the fastest-growing fintechs in the MENAP region, and will work alongside Bank Alfalah, after it secured 9.9 per cent equity in the fintech firm. The bank’s fintech investment forms part of its move to drive digital transformation and financial inclusion across key markets.
Jingle Pay was recently awarded the top global fintech for remittances into Pakistan, having processed over 2 million transactions and facilitating over $1billion in international money transfers in 2024, with its proprietary AI-powered tech stack saving customers over $6million in fees.
Jingle Pay has established itself in the MENAP region, supported by the likes of MoneyGram, G42-backed Applied AI, and US VC firms including N26 and PayPal. Bank Alfalah’s equity investment and appointment to Jingle Pay’s board signal a robust partnership aimed at driving growth and innovation.
This collaboration leverages Bank Alfalah’s extensive infrastructure to amplify Jingle Pay’s impact on cross-border payments and digital banking, advancing its vision for the region.
“By combining Jingle
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