UAE fintech platform Botim has launched the Botim One Jaywan Prepaid Card, becoming the first fintech in the country to issue a prepaid card under Jaywan, the UAE’s national card scheme, according to the announcement.
The initial rollout is expected to reach more than 200,000 workers through Botim’s corporate payroll relationships and partnerships with exchange houses. The company said it aims to eventually extend the card to up to 4 million workers across the UAE.
Jaywan is operated by Al Etihad Payments, a Central Bank of the UAE subsidiary. The scheme processes domestic card transactions through the UAE’s national payments infrastructure and supports payments at point-of-sale terminals and online.
Botim will distribute the card through its regulated Wages Protection System (WPS) payroll solution. Employers can use the platform to pay salaries digitally, while employees can use the card for everyday purchases. Botim said the card has no minimum salary or balance requirement and offers multilingual digital onboarding.
The launch builds on Botim’s reported 8.5 million users in the UAE and its payroll network. Cardholders can also access remittances to more than 170 destinations and other financial services available through the platform.
Source: Zawya
