Treasury Management Internation Logo

DubaiCard: A New Generation of Prepaid Cards for GCC


From April 2015, Dubai residents will be able to apply for personalised Mastercard-branded prepaid cards, known as DubaiCards, from over 200 self-service kiosks across Dubai. Holders will be able to make cashless payments both within the UAE and worldwide, at retail point-of-sale (POS) terminals and online, and access cash via ATMs.

John Sharman

John Sharman, CEO of Tuxedo Money Solutions, one of the founders of DubaiCard outlines, “Credit, debit and prepaid cards have seen considerable growth in Dubai over the past five years, in what has traditionally been a cash-based society, as a result of proactive government initiatives to encourage the use of electronic payments. The launch of the DubaiCard, however, marks a major step forward in availability and convenience.” The initiative is a tripartite development between Tuxedo, the UK-based international payments technology company behind the recently-launched Travelex SuperCard, National Pay and Atam, a market leader in kiosk-based solutions.

One of the biggest challenges in card issuance in any country is to ensure compliance with KYC (know your customer) regulations without compromising on consumer convenience. As Graham Foster, CEO of Atam explains, “DubaiCard uses a new-to-sector technology, called Smart Issuance. We make use of the full KYC strategy that is so well-tested in the banking and finance sector.” Specifically, the card holder’s profile is scanned from their Emirates identity card and passport via an electronic reader at the self-service kiosk. As a result, DubaiCards are available only to Dubai residents as part of the initial offering, but with a large immigrant workforce, the scope of the solution is likely to expand in the future.

Although DubaiCards will be issued in Dubai initially, the founders are expecting the prepaid card solution to be rolled out across GCC as a second phase. In addition, the functionality will be extended to allow employers to pay salaries and expenses directly onto DubaiCards. In the meantime, cards can be topped up online as well as through kiosks, allowing considerable flexibility for both consumers and employers seeking to make payments to employees through prepaid cards rather than in cash.

National Pay’s Managing Director, Mr. Rashid AlKetbi concludes,

“We are thrilled to be part of this facility as it promotes accessible services across the Emirate and is perfectly in line with fulfilling the vision of HH Sheikh Mohammed Bin Rashid Al Maktoum, UAE’s Vice President and Prime Minister and Ruler of Dubai”.

For more information, please contact John Sharman, CEO, Tuxedo Money Solutions.

Most recent episodes

HSBC’s Sibos Spotlight: Investing in the Future – from Diversity to Green Deposits

In the final instalment of HSBC’s Sibos Spotlight, Eleanor Hill (TMI) invites Nadine Lagarmitte and Suraj Kalati (HSBC) to consider how corporates’ attitudes to...


HSBC’s Sibos Spotlight: The ESG Landscape – what every treasurer needs to know

In the third edition of HSBC’s Sibos Spotlight Podcast series, TMI’s Eleanor Hill invites Farnam Bidgoli (HSBC) to provide an in-depth overview of the current ESG...


The Path to Transformational Global Cash Visibility

Davina Bradley (CEVA Logistics) and Conor Deegan (CashAnalytics) join TMI’s Eleanor Hill to explore how treasurers can transform their cash visibility and forecasting within their business in a matter of weeks using a...


HSBC’s Sibos Spotlight: Embedding ESG in Trade and Supply Chains

In the second podcast from HSBC’s Sibos Spotlight series, TMI’s Eleanor Hill speaks to Surath Sengupta (HSBC) about embedding ESG into trade and supply chains....


Lost in Transaction: Overcoming Payments Pitfalls

From simple errors to duplicates, fraud and sanctions violations, there are a number of areas where payments can go wrong – especially in the real-time environment. In this podcast, TMI speaks to Andrew Ferrao...


HSBC's Sibos Spotlight: Central Bank Digital Currencies

The first edition of HSBC’s Sibos Spotlight series sees TMI’s Eleanor Hill joined by Mark Williamson and James Pomeroy (HSBC) to discuss the hot topic of Central Bank Digital Currencies (CBDCs). Our guests discuss...


Payments Vision 2025: The Inside Track

Wim Grosemans, Steven Lenaerts (BNP Paribas) and Wim Raymaekers (SWIFT) join TMI’s Eleanor Hill to outline their vision for the payments landscape in 2025. Our guests consider how recent developments such as instant...


Stepping Out from the Shadows

“Treasurers needs to step out of the shadows and into the sunshine in terms of their strategic contribution.” claims Zitah McMillan, Co-Founder and CEO, Predictive Black. In this podcast, hosted by TMI’s Eleanor Hill, our guest declares that the...


Why the ‘One Size Fits All’ Approach is Outdated - A Cash Segmentation Treasury Masterclass

With the ongoing low interest-rate environment and increasing regulatory change, it’s more important than ever for treasurers...


Instant Payments: Instant Rewards

TMI’s Eleanor Hill sits down in the virtual TreasuryCast studio with J.P. Morgan’s Global Head of Real-Time Payments, Cyrus Bhathawalla, to discuss how treasurers can capitalise on the evolving nature of real-time payments. Our guest contemplates the elements...