DUBAI, May 13, 2025: — Botim, the flagship platform of Astra Tech, has become the first fintech entity in the UAE to issue the Central Bank–backed Jaywan prepaid card through a strategic partnership with Mbank, a leading digital bank. The agreement was signed at the Dubai Fintech Summit by Dr Tariq Bin Hendi, CEO and Board Member of Astra Tech and Botim, and Mohammed Wassim Khayata, CEO of Mbank.
Key Details of the Partnership
- Direct Issuance via Botim App
Botim, powered by PayBy, can now issue Jaywan prepaid cards directly to verified users through the Botim app. This integration removes the need for a traditional bank account, giving users fast access to secure digital payments. - Alignment with UAE Payment Objectives
The collaboration supports the Central Bank of the UAE’s goal of expanding digital payment options. By offering a fully digital alternative to cash, the Jaywan card helps strengthen financial sovereignty and promotes local interoperability between payment systems. - Expanded Fintech Services on Botim
Botim’s existing services include multi-currency prepaid cards, real-time remittances, micro-lending and in-chat financial tools. Adding the Jaywan scheme builds on Botim’s role as a leading digital lifestyle and financial services platform in the MENA region.
Dr Bin Hendi Emphasizes Financial Inclusion
Dr Tariq Bin Hendi said that embedding Jaywan into Botim reflects a commitment to deepening access to financial services. “By including Jaywan in our platform, we are giving users more control over their money and helping drive the UAE’s shift toward digital finance,” he said.
What Is the Jaywan Card?
Developed under the supervision of the Central Bank and operated by Network International, the Jaywan card is the UAE’s first domestic payment scheme. Its main objectives are:
- Reduce Reliance on International Networks
Cut transaction costs and support local merchants by routing payments through a home-grown network. - Promote Local Interoperability
Enable smooth transactions among banks and financial institutions across the UAE without relying on foreign card networks. - Enhance Security
Offer a safe digital payment option under the Central Bank’s regulatory framework.
Mbank CEO on Driving Financial Innovation
Mohammed Wassim Khayata noted that the partnership aligns with both organizations’ vision to boost innovation and inclusion in digital banking. “This collaboration shows our shared goal of offering advanced digital banking services that meet our customers’ evolving needs and support the UAE’s digital economy,” he said.
How Users Can Apply for the Jaywan Card
- In-App Application
Verified Botim users can apply for and activate their Jaywan prepaid card directly within the app. - Real-Time Activation
Once approved, the card is instantly ready for use, allowing users to make digital payments, transfer funds and withdraw cash from ATMs. - No Minimum Balance or Monthly Fees
The Jaywan card offers an affordable option for daily transactions, with zero minimum balance requirements and no hidden monthly charges.
Impact on the UAE’s Financial Ecosystem
The Botim-Mbank joint effort is expected to:
- Accelerate Cashless Adoption
More UAE residents and expatriates will gain access to digital payments, speeding up the shift away from cash. - Support Small Businesses
Local merchants will benefit from lower handling costs and greater payment transparency as digital transactions rise. - Boost Digital Literacy
As users manage their Jaywan cards through the Botim app, they will learn how to navigate digital financial tools with confidence.
Future Roadmap and Expansion
Botim and Mbank plan to expand the Jaywan card’s reach over the coming months:
- Phased Rollout Across the UAE
The card will first be available in major cities, followed by coverage in smaller emirates by Q4 2025. - New Features via App Updates
Upcoming enhancements include loyalty rewards, spending controls and instant balance notifications. - Partnerships with Retailers and Service Providers
Botim will work with local merchants to offer special deals and discounts that encourage wider card adoption.
As Botim and Mbank roll out the Jaywan prepaid card, the UAE’s fintech sector is poised for rapid growth. Wider access to digital payment tools should drive competition, lower transaction costs and help achieve the Central Bank’s vision of an inclusive, cashless economy.
