Jaja Finance has signed a deal with Asda to provide digital, reward-led credit cards to the UK supermarket chain's 18 million customers right across the UK,
The new credit card, to be launched later this summer, will allow customers the opportunity to earn rewards on their credit card spend which they will then be able to redeem at Asda, in-store or online.
Key features of Jaja's mobile-controlled credit cards include fast onboarding, the ability to tag and search transactions and the option to share credit limits with trusted friends and family. Repayments and account settings can all be managed within the app, which provides links to bank accounts for paying off credit.
The partnership with Aada comes just weeks after Jaja announced a multi-million-pound investment of up to £120 million from KKR and TDR Capital LLP, who have now become majority shareholders of the business.
David Chan, CEO of Jaja Finance, says: “At a time when inflation continues to rise and household budgets are being squeezed, we’re able to offer Asda’s 18 million customers the opportunity to get something back from their credit card. Our expertise in digital payments and lending means we can offer them access to credit when and where they need it alongside simplicity, rewards and good value for money.”