• XareClub users can get instant, seamless & safe access to any & every card
  • Card owners can pool cards with friends & shop with full security on Xare

Dubai, UAE: Xare – a user-generated finance platform, today announced the launch of the world’s first card club, on the sidelines of the ongoing Step Conference 2023 in Dubai. XareClub is a one-of-its-kind platform where users can share credit and debit cards among their trusted circles so that club members can enjoy any benefit, discount, or offer on any card in the network.

Home to over 10 million people, the UAE is a distinctive blend of traditional and alternative payment methods. With an estimated 10%p.a. growth rate, the card payments market is flourishing in the e-commerce realm and is expected to comprise nearly half (45%) of all transaction value by 2025. Clearly, cards are the preferred mode of payment for UAE shoppers. 

It’s a common practice for banks in the UAE to load their cards with lucrative offers and deals on shopping, dining, entertainment, etc. These benefits can translate to huge savings for the card-users. But not everyone has every card. So, how do shoppers maximize their benefits and save more? 

With the XareClub, anyone can create a card club, invite family members or friends to add their cards and discover the benefits offered on each. If you find a good offer but don’t have the right card, you simply ask a club member to share theirs. You can even get access to high-end cards without owning them!  Xare allows you to share cards without revealing the card details, so users are always in full control of their money. 

Commenting on the need for a platform like the XareClub, Padmini Gupta, CEO & Co-Founder, Xare said, “A credit card is a heavily commoditized product – every card has the same basic function of giving you an interest-free ability to spend and pay later. What distinguishes a card and makes a user choose it over others is the benefits it offers. If you’re a XareClub member, you don’t need to own more cards to enjoy more perks – you request a fellow member and shop using a shared card.’

“A fully shareable-benefits platform between trusted networks is a massive disruption to the multi-trillion-dollar card industry. With the XareClub, we are building on our unique tech stack and making money social not only on a one-to-one basis but also many-to-many basis. We are super excited to launch the XareClub and can’t wait to see how it plays out in the vibrant UAE market that has always welcomed disruptive tech innovations,” she added. 

Xare is a user-generated finance platform that allows anyone to share access to their credit or debit cards with someone they trust, in their home or across borders. On Xare, you can share money instantly, for free, without revealing your card details. This makes Xare a safe, card-free alternative to other payment options. Over 2 million users across 180 countries actively use Xare for family sharing, remittance, shopping, bill payments, and so much more. 

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About Xare

On the Xare platform, anyone can create financial instruments to share access to their money with their loved ones, anyone, anytime, and anywhere. The process is seamless, safe, and instant. A person who receives access to money can then shop in-app at thousands of stores locally or globally. 

Xare was launched in January 2021 with the purpose to ‘reclaim the soul of banking for everyone’, and the mission to empower the one-third of the world’s population that has an income, to share their financial resources with the two-thirds of the population that does not. Xare has since developed into one of the world’s most exciting and dynamic tech companies and is set to transform how the world sends/shares money across generations, genders, and borders.

Xare is regularly featured in the local and international media, including Forbes, Entrepreneur, Financial Times, Arabian Business, Khaleej Times, The Economic Times, and many more. It recently won the award presented by Entrepreneur for the Fastest Growing Startup at the Leaders in Fintech 2021 event in Dubai. 

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