Another Nobank appearing in the United Arab Emirates

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Mobile bank company will launch Jingle Pay, which is developing solutions for social payments

Another noobank will appear in the UAE. Photo: fintechranking.com

Dubai fintech startup Jingle Pay, which is developing social payment solutions for individuals and legal entities for mobile and desktop platforms, will launch a Nobank in the United Arab Emirates.

Jingle Pay was founded by former hedge fund manager Amir Firdagsemi and founder of Telenor Bank and EasyPasa Nadim Hussain. According to Fardagasemi, multi-currency accounts and cards, money transfer, nanofinancing, instant and free money transfer services and other additional services will be available to Jingle Pay Nabank customers. As Faradgasi emphasized, Jingle will be the first Nobank super-application in the region.

Registration in Jingle Pay is in digital format. To identify users, a Nebank passport, a residence permit, an identity card and a driving license issued in the UAE.

Jingle Pay is currently in the process of obtaining banking licenses in the UAE, Indonesia, the Philippines and other Arab Gulf states. It is expected that the full launch of Neobank in the UAE will take place in the second half of 2020.

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Earlier, we wrote that the British new-bank Starling Bank announced a “connected” card, which can be linked to your bank account and transferred to someone else to spend on behalf of the account holder .

A replacement debit card was developed in relation to the self-alienation of citizens who cannot leave home and rely on the help of their friends, relatives or neighbors to buy food.

The card is protected by a PIN code and has a balance limit of £ 200 (approximately $ 240). With this, you can only pay in general stores, you cannot use the card for online purchases.

Read:
Coronavirus vs. Fintech: How An Epidemic Affects Neobanks
TikTok developer and taxi booking service: Banks may appear in near future

According to the content finextra.com


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