Al Etihad Payments (AEP), a subsidiary of the Central Bank of the UAE (CBUAE), has declared that the financial infrastructure for Jaywan, the UAE’s domestic card scheme, is ready to be activated on both local and global levels. Jaywan represents the first domestic card scheme launched in alignment with the UAE’s digital transformation strategy, aiming to boost the nation’s status as a leading global hub for digital payments.
What benefits does Jaywan offer consumers and businesses?
The Jaywan scheme is designed to provide consumers and businesses with a secure, efficient, and innovative payment solution. It aims to reduce transaction costs by offering a viable local alternative, enhance efficiency by speeding up local payment processes via the UAESWITCH, support economic growth, encourage innovation in payment methods, promote e-commerce, advance financial inclusion, and deliver financial services that fulfill the diverse needs of society.
The Jaywan scheme will be available in various forms, including basic and premium options, such as debit, prepaid, and credit cards. These cards can be utilized across multiple payment channels, including online transactions, ATM withdrawals, and point-of-sale (POS) terminals.
Types of Jaywan cards offered
Licensed financial institutions will provide two types of Jaywan cards to their customers based on individual requirements: a mono-badge card, which is exclusively Jaywan for local use and in Gulf Cooperation Council (GCC) countries, and a co-badge card created in collaboration with international payment schemes to enhance usability both locally and globally.
In this context, AEP has forged agreements and partnerships with international payment networks such as Discover, Mastercard, Visa, and UnionPay. These collaborations will enable UAE customers to utilize Jaywan cards and expand their global usability. Additionally, AEP has signed a Memorandum of Understanding (MoU) with Samsung Gulf Electronics to incorporate Jaywan cards into the Samsung Wallet, facilitating seamless payments via smartphones.
What are the next steps for Jaywan’s digital payment implementation?
The next phase will also include the integration of Jaywan with Google Pay and Apple Pay, alongside bilateral agreements with India by mid-2025, as well as other nations, further broadening Jaywan’s usability beyond the UAE.
Moreover, AEP plans to launch an awareness campaign in April 2025 to showcase the features and advantages of Jaywan. This campaign will inform individual customers and businesses on how they can benefit from its innovative services and highlight the local payment card scheme’s role in lowering payment costs while providing a secure and seamless payment experience that meets societal requirements.
Saif Humaid Al Dhaheri, CBUAE’s assistant governor for Banking Operations and Support Services and Chairman of Al Etihad Payments, stated, “Jaywan is one of the key initiatives that aligns with the UAE’s wise vision and strategic aspirations for digital payments by localising 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.”
Jan Pilbauer, CEO of Al Etihad Payments, remarked, “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, 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.”
