Astra Tech’s flagship platform Botim has partnered with Mbank, a digital bank in the UAE, to introduce the country’s first fintech integrated Jaywan card scheme.
The agreement was announced during a signing ceremony at the Dubai Fintech Summit.
Through this partnership, Botim, powered by PayBy, becomes the first fintech platform in the UAE to issue Jaywan cards.
The initiative supports the Central Bank of the UAE’s efforts to establish a national payment system and aligns with the country’s aim to reduce reliance on cash transactions.
The new prepaid card service will allow Botim users to make digital payments across the Emirates without requiring a traditional bank account.
Users will be able to apply for and activate their Jaywan card directly within the Botim app.
Dr Tariq Bin Hendi, CEO and Board Member of Astra Tech and Botim said,
“The launch of the Jaywan scheme via Botim represents a strategic commitment to enhancing the accessibility and infrastructure of financial services in the UAE. By integrating this national payment solution into our platform, we are empowering users with greater financial autonomy and contributing to the UAE’s digital transformation goals.”
Mohammed Wassim Khayata, CEO of Mbank added,
“Our partnership with Botim to introduce the Jaywan card scheme is a testament to our shared vision of driving financial innovation and inclusion in the UAE. This initiative underscores our commitment to providing cutting edge digital banking solutions that meet the evolving needs of our customers.”
The Jaywan card scheme, developed under the supervision of the Central Bank of the UAE and powered by Network International, is the country’s first domestic card system.
It is intended to strengthen financial sovereignty and provide interoperable local payment solutions.
This addition builds on Botim’s existing financial services, which include multi currency prepaid cards, global remittance capabilities, micro lending, and in app financial tools.
Featured image credit: Mbank
