The UAE is taking a significant step forward in its digital transformation journey with the introduction of Jaywan, the country’s first domestic card scheme. Launched by Al Etihad Payments (AEP), a subsidiary of the Central Bank of the UAE (CBUAE), Jaywan promises to revolutionize digital payments in the UAE, making transactions more secure, efficient, and cost-effective for both businesses and consumers.

This new initiative aligns perfectly with the UAE’s broader strategy to position itself as a global hub for digital payments. As part of this ambitious vision, Jaywan will help streamline payment processes while also contributing to the country's goals of financial inclusion and innovation.

What is Jaywan?

Jaywan is designed to provide a local alternative to international payment schemes, aiming to lower transaction costs and enhance the overall payment experience. The new payment card system will offer a range of products, including debit, pre-paid, and credit cards, which can be used for various purposes such as:

• Online transactions
• ATM withdrawals
• Point-of-sale (POS) payments

By integrating with the UAESWITCH system, Jaywan cards will accelerate payment processing across the country. The launch of this domestic card scheme not only supports the growing demand for cashless payments but also fosters the UAE’s efforts toward becoming a fully digital economy.

Global Usability and Strategic Partnerships

Despite being a domestic card scheme, Jaywan has global aspirations. In order to offer users international usability, AEP has partnered with major payment networks like Discover, Mastercard, Visa, and UnionPay. This ensures that Jaywan cardholders will be able to use their cards for payments at millions of merchants and ATMs worldwide.

Additionally, AEP has entered into a Memorandum of Understanding (MoU) with Samsung Gulf Electronics to integrate Jaywan cards into the Samsung Wallet. This will make it easier for users to manage their cards and make payments directly from their mobile devices. In the future, there are plans to expand compatibility with Google Pay and Apple Pay, providing even more flexibility for digital payment users.

To further enhance Jaywan’s reach, AEP is looking to establish bilateral agreements with countries such as India by mid-2025. This move will help ensure that the Jaywan card scheme supports international transactions, making it even more attractive for users traveling abroad.

Supporting the UAE’s Economic Ambitions

Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services at CBUAE and Chairman of AEP, emphasized Jaywan’s role in enhancing the UAE’s financial ecosystem. He noted that the introduction of Jaywan would not only reduce transaction costs but also encourage greater use of digital payments, further driving the country’s economic goals.

Meanwhile, Jan Pilbauer, CEO of AEP, pointed out that Jaywan will empower consumers by giving them greater control over their finances while improving the convenience and security of digital payments. This, in turn, will help the UAE achieve its ambition of a future-ready, digital-first financial infrastructure.

What’s Next for Jaywan?

In order to familiarize the public with Jaywan and its benefits, an awareness campaign will be launched in April 2025. This campaign will educate consumers about how to use the cards and highlight the scheme’s role in ensuring a secure, seamless, and cost-effective payment experience.

As Jaywan continues to expand and evolve, it marks a major milestone in the UAE’s journey toward financial innovation and digital payment solutions. By providing a secure and efficient local payment option, Jaywan is set to play a key role in the UAE’s aspirations to become a global leader in digital finance.