JP Morgan-backed ISG, Bank of Baroda UAE Launch Jaywan Cards In UAE
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JP Morgan-backed ISG has partnered with Bank of Baroda UAE to launch Jaywan Cards, enhancing local payment solutions with lower costs.
JP Morgan-backed fintech venture, In-Solutions Global (ISG), has partnered with Bank of Baroda UAE to launch Jaywan Cards in the UAE.
The introduction of Jaywan Cards will significantly enhance merchant acceptance by offering lower costs and fees, improved transaction controls, and a fully digitised environment for payments and reporting. This creates a more efficient and attractive solution for the UAE's evolving payments ecosystem.
The Jaywan Scheme operates under defined scheme guidelines, ensuring transactions comply with the highest security and regulatory standards. The Jaywan Card seeks to simplify financial transactions using the UAE's own card network. As the card service provider, ISG will ensure high acceptance rates across various merchant categories in the UAE, including retail, hospitality, and e-commerce.
Jaywan Cards offer lower transaction costs and reduce reliance on foreign card networks by enabling optimized domestic payment processing. They also promote stronger financial inclusion by encouraging the shift from cash to digital payments. Additionally, the cards ensure enhanced security and full regulatory compliance under the framework set by the Central Bank of the UAE (CBUAE).
Praveen Balusu, SVP – Product & Delivery at ISG, added: 'ISG is proud to be at the forefront of fintech innovation in the UAE. By enabling end-to-end Jaywan card issuance, we are helping regional banks and financial institutions adopt a fully localized payment system that is both efficient and scalable. In future, Jaywan's interoperability with RuPay also provides a seamless cross-border experience, making it a game-changer for businesses and consumers alike"
ISG has been a trusted partner for major banks across the UAE and Saudi Arabia, providing industry-leading settlement and reconciliation services. The company's deep expertise in domestic payment processing ensures seamless Jaywan implementation, enabling banks like Bank of Baroda, UAE to offer innovative and cost-efficient solutions to their customers.
First Published:
May 26, 2025, 13:17 IST
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