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  • Credit
  • Innovation
  • United Kingdom

Jaja Acquires Bank of Ireland UK’s Credit Card Portfolio


  • The British FinTech Jaja acquires Bank of Ireland’s entire credit card portfolio (including AA - Automobile Association and Post Office-branded consumer credit card portfolios). Jaja will be acting as their main issuer.
  • This agreement is worth roughly $530 million (over €590 million). Jaja also gets an equity investment of £20 million in its own business (€22 million).
  • The transfer of this credit card portfolio is expected to be effective in 2020.


  • Boosting their presence in the UK. This announcement stresses the FinTech’s strategy: through this acquisition, Jaja intends to become a major player in the UK credit card market, with a set of simple and secure digital services and features. This partnership provides them with an extensive distribution network for their cards.
  • Relying on multiple strategic agreements and partnerships. Jaja already teamed up with ASDA, for instance, and manages a white-label instalment service for this retail chain.
  • Bank of Ireland gets access to Jaja’s mobile-first technology. Bank of Ireland would be able to attract new customers more easily while featuring an innovative mobile customer experience designed by Jaja.


  • The British start-up keeps consolidating their position in the UK payment market. In 2018, they secured £7 million in funding when launching their first credit card. And Jaja issues their own credit card, too.
  • This partnership confirms that the relationship between banks and FinTechs is evolving. Bank of Ireland is provided an opportunity to enhance their customer experience, and make adjustments in line with mobile processes, which explains why they opted for a third party FinTech.