Jaja Finance, which is authorized and regulated by the Financial Conduct Authority in England and Wales, has introduced new mobile-first credit card that can be managed entirely through an app.
Jaja is a next generation credit card designed to offer better consumer experience.
Jaja has already raised £7m funding from major global investors to simplify its consumer finance business.
The company is also planning for additional investments through equity crowdfunding platform Seedrs. It will use the funds to support the quicker launch of first 2,000 investor credit cards and develop round the clock customer service feature.
The new credit card is provided with an advanced onboarding process feature, which will help customers to securely open credit accounts without any complications.
Customers have to scan only their driving licence or passport to start their transactions.
The app also allows tech-savvy consumers to intelligently tag and search transactions, as well as enables to share credit limit with trusted friends and family.
The company is also providing option for customers to connect Jaja credit card with their bank account, enabling to reduce the risk of overdrawn or missing significant payment.
Jaja Finance CMO and co-founder Kyrre Riksen said: “We believe in a world where technology, brilliant design and human customer experiences make life simple and liberate people from needless complexity, wasted time and frustration.
“It’s in our Norwegian DNA to prioritise living and find better ways to live. We are delighted to already have global investors on board, and are now looking forward to introducing Jaja to the financial world and beyond through our Seedrs round.”
Jaja Finance is working with Visa as a principal member for issuing cards, process transactions, offer processing services and acquire merchants directly. It is supported by the Visa investment and strategic partnership program.
Jaja Finance is also said to leverage its own consumer credit and payment institution licences, authorised by the FCA, for end-to-end delivery of its next generation credit card.
Visa Europe SVP Bill Gajda said: “Visa is delighted to welcome Jaja as the newest partner in our FinTech programme. Jaja are a next-generation Visa issuer offering a truly unique consumer lending proposition, enabling Jaja cardholders to use their Visa cards at more than 46 million merchant locations around the world and online.”