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 first domestic card scheme, to be activated locally and globally. The Jaywan scheme will be available in 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.

According to a statement released by CBUAE, the latest initiative aims to provide consumers and businesses a secure, efficient, and innovative payment solution, lower transaction costs by providing an effective local alternative, and increase efficiency by accelerating local payment processes using the UAESWITCH.

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. As part of this, AEP has signed agreements and partnerships with international payment networks. Meanwhile, the next phase will also witness the implementation of Jaywan on Apple Pay and Google Pay, in addition to bilateral agreements with India by mid-2025 and other countries, further expanding Jaywan's usability outside the UAE.