Jaja purchase Bank of Ireland UK credit card business

Just seen an email stating that Jaja have purchased Bank of Ireland UK credit card business.
This includes AA and Post Office credit cards.

1 Like

Full text:

Dear friend,

You may have been wondering about the radio silence from Jaja. A lot has been going on behind the scenes which, for confidentiality reasons, we’ve not been able to tell you about. Until now…

We have some very exciting news to share. In fact, it’s a truly game-changing moment for Jaja and one that’s required months of hard work and dedication from our team to make happen.

We’re delighted to announce that an investment group led by Jaja has reached an agreement to acquire the Bank of Ireland’s existing credit card accounts, operating under the Bank of Ireland UK, the AA and Post Office brands. You can read the press release below:

[Read press release]

This deal is a massive vote of confidence in Jaja and demonstrates that we’re on the right path to growing our platform of brilliantly simple consumer finance products. The Jaja Card will remain Jaja’s flagship product and will continue to pave the way.

Our Pioneer waiting list is now closed, but as you’ve already secured your spot, you’re guaranteed to be one of the first invited when we resume onboarding.

At present, we’re gearing up to send out more Pioneer invites in small batches. Meanwhile, we’re also investing time and resources in our technology, which we believe is the right thing to do to create a better credit card.

You’re incredibly important to us and we’ll always ask for your feedback – it’s our Pioneers who will help us shape the future of credit.

As ever, thank you for your patience. If you have any questions, please get in touch at hello@jaja.co.uk

1 Like

Reminds me of Tandem buy a bank and everything gets worse. They can’t even get there own product right, now taking on other customers.


I don’t know what Tandem’s story is but Jaja have always said that partnerships and being a white label provider of credit products is a major part of their strategy.

I think I’m right in saying their first product was a credit product for ASDA (Asda flexible payments) and it was launched or trialled even before they started a waitlist for their own-brand credit card.

It’s looking like there own brand was just a proof of concept to get finance for this deal

I suspect things were bad at Tandem before this - in that they lost their banking licence and had to buy Harrods Bank to get another one!

As I posted elsewhere :

“The Jaja Card will remain our flagship product and will continue to pave the way. This news won’t impact the way you use your card either. If anything, we’re now better placed to improve it.
You’ll still get to try out the features of the Jaja Card first, and we’ll always ask for your feedback – it’s our Pioneers who will help us shape the future of credit.
At present, we’re gearing up to resume onboarding in small batches to give others the opportunity to experience the Jaja Card too.”

While this is the accepted narrative I’m not sure how true it actually is. Yes they got the banking licence, the deposits, and customers of Harrods Bank, what they also got was a new owner in the Qatar sovereign wealth fund, which clearly when they were trying to sell out to a much larger firm for a decent injection of cash anyway in the Sanpower deal that never happened, was an important move for them, and perhaps as much the reason for the Harrods Bank deal as the banking licence. They gained a very rich, large and powerful owner who can open many doors that they perhaps would not be able to otherwise to grow the business.


I couldn’t be bothered replying to the original comment. But spot on!

1 Like