UAE Launches First Domestic Card Scheme Jaywan
Al Etihad Payments (AEP), a subsidiary of the Central Bank of the UAE (CBUAE), has announced the launch of Jaywan, the country's first domestic card scheme.
With its launch, Jaywan joins a growing number of domestic card payment schemes that offer national payment infrastructure similar to what Mastercard and Visa offer internationally.
The system is now ready for use locally and internationally, WAM reported, supporting the UAE's efforts to expand digital payment options.
Australia's Eftpos, Brazil's Elo, India's RuPay, Saudi Arabia's Mada, Bahrain's Benefit, and Kuwait's KNET have gained popularity have established their own domestic systems to facilitate debit and credit card transactions. There are about 90 such schemes globally, with nearly 2 billion cards in circulation.
While this represents less than 8% of the 26 billion plastic cards in use today, many countries are prioritizing domestic payment networks, especially for debit transactions, to enhance security, lower costs, and boost financial independence.
Secure, cost-effective
Jaywan aims to provide a secure and cost-effective payment option for individuals and businesses. It is designed to lower transaction costs, speed up local payments using UAESWITCH, support e-commerce, while improving financial inclusion.
The scheme will offer different types of cards, including debit, prepaid, and credit cards, which can be used for online transactions, ATM withdrawals, and point-of-sale (POS) purchases. Customers can choose between: A mono-badge card (Jaywan-only) for use in the UAE, GCC countries, and select international locations.
(Jaywan-only) for use in the UAE, GCC countries, and select international locations. A co-badge card (Jaywan + international payment network) for broader global acceptance.
To expand usability, AEP has partnered with international payment networks such as Discover, Mastercard, Visa, and UnionPay. It has also signed an agreement with Samsung Gulf Electronics to enable Jaywan cards on Samsung Wallet. Future plans include integration with Google Pay and Apple Pay, as well as agreements with India and other countries by mid-2025.
An awareness campaign will launch in April 2025 to inform individuals and businesses about Jaywan's features and benefits.
Saif Humaid Al Dhaheri, Assistant Governor of the CBUAE and Chairman of AEP, said that Jaywan is part of the UAE's strategy to localize card payment operations and reduce costs.
Jan Pilbauer, CEO of AEP, added that the scheme was developed in collaboration with industry stakeholders to create a flexible and future-ready payment system for the UAE.
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