Jaywan: Transforming UAE’s Payment Landscape

Al Etihad Payments (AEP), a subsidiary of the Central Bank of the UAE (CBUAE), has announced that the financial infrastructure for Jaywan, the UAE’s first domestic card scheme, is now fully operational for local and international transactions, reports Fintech Finance News. Launched as part of the UAE’s digital transformation strategy, Jaywan aims to position the country as a global leader in digital payments.

Designed to enhance security, efficiency, and accessibility, Jaywan offers a cost-effective alternative for payments, accelerates local transactions via the UAESWITCH, fosters economic growth, encourages innovation in fintech, and promotes financial inclusion. The scheme will be available in multiple variants, including basic and premium debit, prepaid, and credit cards, supporting online, ATM, and point-of-sale (POS) transactions.

Customers will have two Jaywan card options: a mono-badge card for domestic and Gulf Cooperation Council (GCC) use, and a co-badge card in collaboration with global payment networks for worldwide accessibility. AEP has partnered with international players such as Discover, Mastercard, Visa, and UnionPay to ensure seamless global usage. Additionally, a Memorandum of Understanding (MoU) with Samsung Gulf Electronics will integrate Jaywan cards into Samsung Wallet, with future plans for Google Pay and Apple Pay integration by mid-2025.

To raise awareness, AEP will launch an educational campaign in April 2025, highlighting Jaywan’s benefits for individuals and businesses. H.E. Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services at the CBUAE and Chairman of AEP, emphasized that Jaywan is a milestone in the UAE’s vision for digital payment sovereignty, aiming to reduce transaction costs and advance financial services. Jan Pilbauer, CEO of AEP, reaffirmed the commitment to providing a flexible and innovative payment infrastructure that aligns with the UAE’s economic ambitions, empowering users with seamless and efficient financial solutions.