Al Ansari Exchange Launches Instant Digital Prepaid Card Issuance via Mobile App

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Al Ansari Exchange launches instant digital prepaid card issuance via its app, moving UAE currency services away from branch-only access.

Al Ansari Exchange now issues TravelCard and FlexiblePay prepaid cards instantly via its mobile app, removing the need for a branch visit.
Both cards are Visa co-branded and integrate with Apple Pay, Samsung Pay and Google Pay for immediate contactless and online use.
The TravelCard supports balances in up to 23 currencies, designed for UAE residents who travel internationally or manage cross-border payments.
Digital issuance uses in-app eKYC verification and generates a usable 16-digit card number instantly upon approval.
The launch responds to growing fintech competition, with UAE digital remittance volumes estimated to be growing at around 18% annually.
CBUAE regulatory reforms now permit digital-only remittance and payment licences with 100% foreign ownership for qualifying fintech firms.

CBUAE Licensing Reforms Intensify Competition for UAE Exchange Houses

Al Ansari Exchange, a subsidiary of Al Ansari Financial Services PJSC and the UAE's largest remittance and foreign exchange provider, has introduced instant digital issuance for its TravelCard and FlexiblePay prepaid cards through its mobile app. The change eliminates the requirement to visit a physical branch to obtain either card, reducing the time between application and first use to a matter of minutes. It is a direct response to competitive pressure building across the UAE's currency services sector.

The Central Bank of the UAE (CBUAE) has accelerated this pressure through new digital-only remittance and payment licensing frameworks introduced in 2024 and 2025. These allow well-capitalised fintech firms to enter the UAE market with 100% foreign ownership in certain licence categories, supported by in-app electronic know-your-customer (eKYC) onboarding standards that are now broadly expected across the sector. For traditional exchange houses with large branch networks, the message is clear: align with the UAE's cashless digital economy strategy or cede ground to app-first competitors.

Two Cards, One Seamless App Experience

Al Ansari Exchange has extended instant digital issuance to two distinct prepaid products. The TravelCard is a multi-currency prepaid card built for international travellers, supporting balances in up to 23 currencies - including US dollar, euro, pound sterling, Indian rupee, Japanese yen and UAE dirham. It is accepted at Visa-affiliated merchants and ATMs globally, offering competitive FX rates and in-app currency management at no charge for app access.

The FlexiblePay card is a Visa Platinum prepaid product designed for everyday domestic and international spending. It targets customers who want a reloadable payment instrument without the need for a standard bank current account. Both cards integrate with Apple Pay, Samsung Pay and Google Pay, enabling customers to make contactless payments via phone or wearable at any merchant that accepts these wallets.

How the Digital Issuance Process Works

The entire application process takes place within the Al Ansari Exchange mobile app. Customers select their preferred card - TravelCard or FlexiblePay - and complete an in-app eKYC process, which is a digital identity verification procedure aligned with UAE regulatory requirements. Once the application is approved, the system instantly generates a 16-digit Visa co-branded card number, presented as a digital card within the app.

Customers can load funds immediately, allocate balances across supported currencies and begin spending online or through linked mobile wallets. Tokenized wallet integration provides a security benefit by limiting the exposure of the actual card number at merchant terminals, reducing the risk of card data being compromised. For customers who want a physical card, conversion from digital to physical is available for an additional AED 15 fee.

Fee Structure Customers Should Understand

Digital card issuance carries a one-time fee of AED 50 for a primary card. Each reload transaction incurs a fee of AED 5. An inactivity fee of AED 25 applies from the seventh consecutive month of non-use and recurs monthly thereafter - a relevant consideration for cards held as travel backup rather than used regularly.

Fees are drawn from the relevant currency wallet first. If that wallet holds insufficient funds, the system draws from other currency wallets in the priority order set by the user, applying the applicable conversion rate at that time. App access and online account management tools are free to use, excluding VAT.

Strategic Context - Competing with Digital-First Entrants

The launch reflects a clear strategic imperative for Al Ansari Exchange. Digital remittance volumes across the UAE are estimated to be growing at around 18% annually, according to market commentary, with customers moving towards fintech providers and neobanks that offer app-based services alongside benefits such as cash-back rewards and higher-yield savings products.

The CBUAE's new digital-only licence frameworks, with capital requirements of around AED 25 million, have created a credible entry route for well-capitalised global fintechs. These firms can now operate in the UAE without requiring joint ventures or local partners, sharpening competition for the everyday payments and currency management customer segment that Al Ansari Exchange has historically served through its branch network.

Chief Operating Officer Ali Al Najjar described the initiative as reflecting the company's "commitment to delivering cutting-edge, secure, and convenient financial solutions while promoting broader financial inclusion across the UAE," as reported by Day of Dubai. The move positions Al Ansari Exchange's prepaid card products as digital-first tools embedded within a broader FX and remittance app ecosystem, rather than standalone branch-issued instruments.

What This Means for Expatriates and Frequent Travellers

For the UAE's large expatriate population and frequent international travellers, the practical benefit is immediacy. A multi-currency prepaid card can now be in a customer's mobile wallet within minutes of submitting an in-app application - particularly useful for last-minute travel or urgent foreign currency payments. The TravelCard's broad currency support reduces the need to carry cash or rely on credit cards that apply foreign transaction charges.

FlexiblePay extends similar convenience to everyday domestic spending, serving customers who lack a traditional bank current account but need a reliable, reloadable payment instrument accepted at millions of merchants worldwide. Together, the two products represent a meaningful upgrade in accessibility for segments that have typically depended on branch visits to manage their currency and payments needs.

What Clients are Asking their Advisors

What currencies does the Al Ansari Exchange TravelCard support?

The TravelCard supports balances in up to 23 currencies, including US dollar, euro, pound sterling, Indian rupee, Japanese yen and UAE dirham. It is accepted at Visa-affiliated merchants and ATMs worldwide. Currency balances and allocations are managed within the Al Ansari Exchange app, which is free to access.

How do I apply for an Al Ansari Exchange digital prepaid card without going to a branch?

You apply entirely within the Al Ansari Exchange mobile app. Select either the TravelCard or FlexiblePay product, complete the in-app eKYC identity verification steps and submit your application. If approved, a 16-digit Visa card number is issued instantly and ready to use immediately.

How does the Al Ansari Exchange digital TravelCard compare to fintech multi-currency cards in the UAE?

Al Ansari Exchange offers broad currency support across up to 23 currencies and integration with Apple Pay, Samsung Pay and Google Pay, competing on convenience with digital-first providers. However, some fintech alternatives bundle additional features such as cash-back rewards or higher-yield savings products. The best choice depends on whether FX rates, currency range or ancillary benefits are the priority.

What ongoing fees apply to the Al Ansari Exchange digital prepaid cards?

An inactivity fee of AED 25 applies from the seventh consecutive month of non-use and recurs monthly after that. Each reload transaction incurs a fee of AED 5, and converting from a digital card to a physical card costs AED 15. App access and online account management are free, excluding VAT.