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 domestic card scheme, is now fully ready to be launched both locally and internationally.
Jaywan is the first domestic card scheme to be launched in line with the UAE’s digital transformation strategy, to strengthen the country’s position as a leading global hub for digital payments.
According to the statement, the card scheme intends to provide consumers and businesses with a secure, efficient, and innovative payment solution, lower transaction costs by providing an effective local alternative, increase efficiency by accelerating local payment processes using the UAESWITCH, support economic growth, stimulate innovation in the field of payments, promote e-commerce, develop financial inclusion, and provide financial services that meet all requirements of the society.
“We have worked closely with all industry stakeholders to build a brand-new national card scheme. Our plans for the next phase include offering Jaywan cards to all customers in the UAE, having considered their needs and expectations, and further empowering users with great control, convenience, and benefits domestically. Jaywan is another prominent achievement in building a more flexible and successful infrastructure for future payments that supports the UAE’s economic ambitions.”
The new card scheme will be available in many variants, such as (basic and premium) including debit, pre-paid, and credit cards, and can be used in all payment channels like online transactions, ATM withdrawals, and point-of-sale (POS) terminals.
Licensed financial institutions will offer their customers two types of cards, as required by the customer: a mono-badge card, i.e. Jaywan only, for local usage as well as in the Gulf Cooperation Council (GCC) countries and others, and a co-badge card in partnership between Jaywan and international payment schemes to facilitate their use locally and globally.
AEP secures multiple deals for Jaywan cards
In this context, AEP has signed agreements and partnerships with international payment networks including Discover, Mastercard, Visa, and UnionPay, to enable customers in the UAE to use Jaywan cards and expand their global usability.
AEP has also signed a Memorandum of Understanding (MoU) with Samsung Gulf Electronics to enable Jaywan cards into the Samsung Wallet, allowing users to make payments seamlessly via their smartphones.
The next phase will also see the implementation of Jaywan on Google Pay and Apple Pay, in addition to bilateral agreements with India by mid-2025 and other countries, further expanding Jaywan’s usability outside the UAE.
Furthermore, AEP will launch an awareness campaign in April 2025 to highlight the features and benefits of the scheme, how individual customers and companies can benefit from its innovative services, and the contribution of the local payment card scheme in reducing payment costs and providing a secure and seamless payment experience that meets all requirements of the society.
Saif Humaid Al Dhaheri, the CBUAE’s Assistant Governor for Banking Operations and Support Services and Chairman of Al Etihad Payments, said that, “Jaywan is one of the key initiatives that align with the UAE’s wise vision and strategic aspirations for digital payments by localizing card payment operations and enhancing the competitiveness of electronic payments. Through this scheme, we aim to reduce payment costs, accelerate the implementation of our digital transformation strategy, and strengthen our commitment to developing more future-ready financial services.”
