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The UAE's first domestic card scheme, Jaywan, is now being rolled out across different banks as the country builds a stronger and more independent financial system.
The scheme is operated by Al Etihad Payments (AEP), a fully owned subsidiary of the Central Bank of the UAE (CBUAE). It was officially launched on Monday.
The collaboration also included a new operations centre in the UAE. This centre will be part of Mastercard's global network and will support local and regional markets with advanced card payment services.
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What is Jaywan?
Jaywan is the UAE's local card scheme. It is designed to give people payment services and benefits that fit local needs, while also supporting the country's payment infrastructure.
It supports safe and reliable transactions inside the UAE. Jaywan users can enjoy good affordability, flexibility, and security, making daily payments easier with debit cards. Merchants can also benefit from lower transaction costs, better customer satisfaction, and wider financial inclusion.
Benefits of Jaywan
The national card scheme supports payments across the UAE through innovation, digitalisation, and independence. Cardholders can benefit from local processing of debit and prepaid card transactions.
Jaywan also ensures that payment-related data is secured, processed, and stored in the UAE. It helps reduce costs for electronic payments, supports local merchants and licensed financial institutions, and promotes financial inclusion in the country.
Banks roll out Jaywan
Sharjah Islamic Bank is one of the participating banks. It is introducing SIB Jaywan branded cards, which will be accepted through its merchant acquiring service, SIB Pay.
Mohamed Abdalla, CEO of the bank, said the UAE's own national card payment scheme "represents a defining milestone in the country's journey towards building a more resilient and future-ready financial ecosystem."
Other participating banks include RAKBANK, Abu Dhabi Commercial Bank (ADCB), Abu Dhabi Islamic Bank (ADIB), Emirates Islamic Bank, Dubai Islamic Bank, Mashreq, Mbank, Al Hilal Bank, Commercial Bank of Dubai, First Abu Dhabi Bank, Wio Bank, and other global institutions including HSBC and Bank of Baroda.
Future-ready financial infrastructure
Ali Al Najjar, CEO of Al Ansari Exchange, said Jaywan is important because it offers "a secure and reliable payment option across point-of-sale terminals, e-commerce platforms, ATMs, and digital wallets."
This will improve customer experience, support financial inclusion, and create more chances for innovation in financial products and services, he added.
United Arab Bank CEO Shirish Bhide said Jaywan reflects the UAE's goal to build a secure, efficient, and future-ready financial infrastructure. "Its success will create lasting value for consumers, businesses and financial institutions, while further supporting the country's digital economy," he said.
The collaboration also included the opening of a new operations centre in the UAE, which will join Mastercard's global network and provide advanced card payment services to local and regional markets.
What is Jaywan?
Jaywan is the UAE's domestic card scheme. It aims to give payment experiences and tailored benefits that meet local needs while strengthening the country's payment system.
It also supports secure and reliable transactions within the country. Jaywan users can enjoy affordability, flexibility, and security, making everyday spending simple with their debit cards. Merchants can also gain from lower transaction costs, higher customer satisfaction, and better financial inclusion.
Benefits of Jaywan
The national card scheme supports payments across the UAE through innovation, digitalisation, and independence. Cardholders can benefit from local processing of debit and prepaid card transactions.
Jaywan makes sure all payment-related data is secured, processed, and stored in the UAE. It also offers lower costs for electronic payments, supports local merchants and licensed financial institutions, and helps improve financial inclusion in the country.
Banks roll out Jaywan
Sharjah Islamic Bank is one of the participating banks. It is introducing SIB Jaywan branded cards, which will be accepted through its merchant acquiring service, SIB Pay.
Mohamed Abdalla, CEO of the bank, said the UAE's own national card payment scheme "represents a defining milestone in the country's journey towards building a more resilient and future-ready financial ecosystem."
Other participating banks include RAKBANK, Abu Dhabi Commercial Bank (ADCB), Abu Dhabi Islamic Bank (ADIB), Emirates Islamic Bank, Dubai Islamic Bank, Mashreq, Mbank, Al Hilal Bank, Commercial Bank of Dubai, First Abu Dhabi Bank, Wio Bank, and other global institutions including HSBC and Bank of Baroda.
Future-ready financial infrastructure
Ali Al Najjar, CEO of Al Ansari Exchange, said Jaywan is important because it offers "a secure and reliable payment option across point-of-sale terminals, e-commerce platforms, ATMs, and digital wallets."
This will improve customer experience, support financial inclusion, and create more opportunities for innovation in financial products and services, he added.
United Arab Bank CEO Shirish Bhide said Jaywan reflects the UAE's ambition to build a secure, efficient, and future-ready financial infrastructure. "Its success will create lasting value for consumers, businesses and financial institutions, while further supporting the country's digital economy," he noted.
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This article was posted on UAEMoments
