Through the partnership, Jingle Pay users will be able to avail the Mastercard network, which has more than 90 million merchants worldwide.
Jingle Pay will also roll out physical and virtual cards to help people, with or without bank accounts, to make payments on a daily basis, as part of the alliance.
This will support financial inclusion in the UAE, noted Jingle Pay.
As per reports of the UAE Federal Competitiveness and Statistics Authority, nearly 1.7 million people do not have access to bank accounts in the UAE.
Mastercard cluster general manager for MENA East J.K. Khalil said: “We are delighted to join forces with Jingle Pay as we harness the power of innovation and technology in our efforts to connect one billion people to the digital economy by 2025.
“Fintechs like Jingle Pay are playing a vital role in supporting the UAE’s digital transformation journey, and this partnership will further ensure that more people can enjoy the safety and convenience of digital payments as we work towards inclusion for all.”
Using the Jingle Pay in-app remittance marketplace, consumers can currently transfer money instantly to more than 160 locations in over 99 currencies.
Jingle Pay founder and CEO Amir Fardghassemi said: “Our partnership with Mastercard furthers our cause of financial inclusion.
“It builds on our unique remittance and money transfer capabilities, offering users more powerful and easier ways of spending their funds from the Jingle Pay mobile application.”