MGI - MoneyGram partners with Jingle Pay to enable global money transfers

• MoneyGram ( NASDAQ: MGI ) has teamed up with United Arab Emirates-located fintech startup Jingle Pay to allow consumers in the Middle Eastern country to send money globally via Jingle Pay's app.
• At the same time, MoneyGram ( MGI ) has taken a minority equity stake of 12% in Jingle Pay.
• "As the startup [Jingle Pay] continues to grow, MoneyGram's direct ownership in the company will strengthen our leading position in the Middle East and further accelerate our strategic goals to lead the evolution of digital payments," said MoneyGram CEO and Chairman Alex Holmes.
• Jingle Pay is targeting expatriates in the UAE, totaling nearly 9M, and providing consumers with access to its multi-currency card and money transfer services. The move will extend Jingle Pay's network of global remittance destinations.
• Previously, (Sep. 20) MoneyGram expands partnership with UAE's e& international .

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