The UAE’s fintech landscape has seen a significant development with the launch of the Botim One Jaywan Prepaid Card, a prepaid card issued by Botim, a UAE-based fintech platform, under the country’s national card scheme, Jaywan. This launch marks a milestone as Botim becomes the first fintech in the UAE to issue a prepaid card under Jaywan, which is operated by Al Etihad Payments, a subsidiary of the Central Bank of the UAE.
The initial rollout of the Botim One Jaywan Prepaid Card is expected to reach over 200,000 workers, with the company aiming to extend the card to up to 4 million workers across the UAE. The card will be distributed through Botim’s regulated Wages Protection System (WPS) payroll solution, allowing employers to pay salaries digitally and employees to use the card for everyday purchases.
What the card offers
The Botim One Jaywan Prepaid Card has no minimum salary or balance requirement and offers multilingual digital onboarding. Cardholders can also access remittances to more than 170 destinations and other financial services available through the platform. This launch builds on Botim’s reported 8.5 million users in the UAE and its payroll network.
Why it matters for UAE workers
The launch of the Botim One Jaywan Prepaid Card is significant for UAE workers as it provides them with a convenient and digital way to receive their salaries and make purchases. The card’s features, such as no minimum salary or balance requirement, make it an attractive option for workers in the UAE.
- No minimum salary or balance requirement
- Multilingual digital onboarding
- Remittances to over 170 destinations
- Access to other financial services through the platform
The launch of the Botim One Jaywan Prepaid Card demonstrates the growing importance of digital payments in the UAE. As the country continues to develop its fintech ecosystem, innovations like the Botim One Jaywan Prepaid Card are expected to play a significant role in shaping the future of payments in the region.
