UAE's first domestic card scheme launched

Al Etihad Payments (AEP), a subsidiary of the Central Bank of the UAE (CBUAE), has announced the readiness of the financial infrastructure for Jaywan, the UAE's domestic card scheme, to be activated locally and globally.

Jaywan is the first domestic card scheme to be launched in line with the UAE’s digital transformation strategy, with the aim of strengthening the country’s position as a leading global hub for digital payments.

Jaywan’s scheme aims to offer consumers and businesses 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.

The Jaywan 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.

Licenced financial institutions will offer their customers two types of Jaywan 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.

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 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 Jaywan, 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, Chairman of Al Etihad Payments, said, "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, said, "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.”

WAM