The UAE's digital payment scheme has reached an advanced stage, solidifying the country's position as a leading global hub for digital payments. This progress is highlighted by Al Etihad Payments (AEP), a subsidiary of the Central Bank of the UAE (CBUAE), announcing the readiness of the financial infrastructure for Jaywan, the UAE's first domestic card scheme, for both local and global activation.
Jaywan is one of the key initiatives that aligns with the UAE's strategic aspirations for digital transformation and payments. It offers consumers and businesses a secure, efficient, and innovative payment solution with lower transaction costs, serving as an effective local alternative. Furthermore, it enhances efficiency by accelerating local payment processes through the UAESWITCH, thereby supporting economic growth, promoting payment innovation and e-commerce, fostering financial inclusion, and providing financial services that meet the diverse needs of society.
To ensure the use of "Jaywan" cards across all payment channels-including online transactions, ATM withdrawals, and point-of-sale terminals-the cards will be offered in multiple variants, such as basic and premium, encompassing debit, prepaid, and credit options. Licensed financial institutions will provide their customers with two types of "Jaywan" cards based on customer preference: single-badged cards ("Jaywan" only), designed for local and GCC country use, and co-badged cards in partnership with international payment systems (Discover, Mastercard, Visa, and UnionPay), enabling local and global transactions.