Jaja - Mobile Credit Card

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axelandpixel
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Jaja - Mobile Credit Card

Post by axelandpixel » Mon Nov 26, 2018 12:03 am

"We started Jaja to make a brilliantly simple credit card. So simple, it will change the face of credit cards… forever! Designed for your mobile – it’s fast, easy to use, intelligent, packed full of amazing features and it’s fair!"

When you sign up for early access, they'll give you £10 cashback on selected brands, subject to successful onboarding and extra £10 for referring. Exclusive perks only available to the first 5,000 customers. They're crowdfunding at the moment and have already launched instant online credit for their partner ASDA, issued and tested the Jaja app and card successfully with their partner Visa.


For anybody who's interested, my link is :arrow: https://joinbeta.jaja.co.uk?kid=SG006
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Constantine
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Re: Jaja - Mobile Credit Card

Post by Constantine » Mon Nov 26, 2018 2:22 pm

Oh god, not another fin tech. :)

What is it that is so complicated about a credit card? You get a bit of plastic and some numbers. You want to buy something you put the card in a machine or tap in some numbers on a website, and hey, you get stuff.

P.S. Crowdfunding = none of the VC boys are interested, let's try and BS some amateurs. :)
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axelandpixel
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Re: Jaja - Mobile Credit Card

Post by axelandpixel » Mon Nov 26, 2018 3:11 pm

Nothing but just like other things, it's evolving. Digital banks like Monzo is growing really well and you get to see your spendings instantly and not have to wait for days for it to appear in your statement and many more advantages.

You're wrong about none of the VC boys are interested. They have VC backers but to also acquire customers without cost, many companies choose the public.

I've invested in a travel card called WeSwap last 2016 and it's aiming to float on AIM next month. Not all startups fail and some can be worth it.
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Re: Jaja - Mobile Credit Card

Post by pabenny » Mon Nov 26, 2018 4:35 pm

Agree with Constantine. Credit cards are a pretty standard product that it's hard to do much with. The provider has to join MasterCard or Visa and the interchange fees are capped. The speed at which transactions show on the customer account is as much driven by the retailer as the other parties along the way.

The hard bits are things like
- dealing with (alleged) fraud
- customers who can't pay
- chargebacks.

All of these are things that are difficult to subcontract to tech.
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axelandpixel
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Re: Jaja - Mobile Credit Card

Post by axelandpixel » Mon Nov 26, 2018 8:15 pm

Since this card is like the credit version of Monzo, I supposed that this will also delivers instant notifications when the money is out right after you've paid. I prefer this compared to the traditional bank accounts where it takes a few days for it to show and I often mistakenly thought I had more money than I have. You can also use it right after you've been approved without having to wait for the physical card to arrive whereas credit applications to traditional banks although can instantly approve you, still takes a week or more to get the card. I use online and mobile banking and hardly visit a branch so this interests me. I have signed up for the beta and I'll see how this goes. :thumbup:

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Re: Jaja - Mobile Credit Card

Post by Constantine » Tue Nov 27, 2018 7:00 pm

It's a credit card, isn't it? Why compare it to a bank account? Instant notifications of what? I know when I've just charged a few quid to my CC.

axelandpixel wrote:
Mon Nov 26, 2018 3:11 pm
...
. Not all startups fail and some can be worth it.
Of course not. Every business was a start up to begin with.
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Re: Jaja - Mobile Credit Card

Post by Constantine » Tue Nov 27, 2018 8:50 pm

pabenny wrote:
Mon Nov 26, 2018 4:35 pm
Agree with Constantine. Credit cards are a pretty standard product that it's hard to do much with. The provider has to join MasterCard or Visa and the interchange fees are capped. The speed at which transactions show on the customer account is as much driven by the retailer as the other parties along the way.

The hard bits are things like
- dealing with (alleged) fraud
- customers who can't pay
- chargebacks.

All of these are things that are difficult to subcontract to tech.
Plus s75 liabilities. :)

Profitability is a matter of volume.

As a customer, all that interests me is how long is the 0% deal"? Otherwise, one CC is pretty much the same as the other. APR don't matter, cos I never pay interest.
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Re: Jaja - Mobile Credit Card

Post by axelandpixel » Wed Nov 28, 2018 12:17 am

Constantine wrote:
Tue Nov 27, 2018 7:00 pm
It's a credit card, isn't it? Why compare it to a bank account? Instant notifications of what? I know when I've just charged a few quid to my CC.
Because they're both digital. When you pay using Monzo, the payment is taken out right away from your account once you paid for something and it instantly notifies you. As opposed to the traditional bank accounts where it can take 2-3 days until it shows on your statement. Jaja as a credit card will be the same having a real-time notification. You can also block your card from the app if you lost it, etc. I see it's not for you but I like having more control as it's designed for mobile. Although I have two traditional credit cards, I'd like to get the next generation one and probably close one of the old.

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Re: Jaja - Mobile Credit Card

Post by pabenny » Wed Nov 28, 2018 5:47 am

The point about this product is that it's nothing new. If it wasn't for the referral payment, nobody would bother with it. For all the hype about fintech, this is just another me-too credit card - only they're using crowdfunding and word of mouth to attract customers.

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Re: Jaja - Mobile Credit Card

Post by AAAlphaThunder » Wed Nov 28, 2018 8:43 am

pabenny wrote:
Wed Nov 28, 2018 5:47 am
The point about this product is that it's nothing new. If it wasn't for the referral payment, nobody would bother with it. For all the hype about fintech, this is just another me-too credit card - only they're using crowdfunding and word of mouth to attract customers.
Exactly, it offer nothing another other card doesn't.
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