Al Etihad Payments Partners with Visa to Launch 'Jaywan-Visa' Co-Branded Debit, Prepaid Cards
Al Etihad Payments, a subsidiary of the Central Bank of the UAE (CBUAE), has partnered with Visa to introduce the "Jaywan-Visa" debit and prepaid cards in the UAE.
This collaboration aims to enhance the UAE's transition to a digital economy, offering consumers a seamless, secure, and efficient payment experience both locally and globally.
The new co-badged cards feature both the Jaywan and Visa logos, enabling users to make secure payments across the UAE and at over 150 million Visa merchants worldwide. Domestic transactions will be processed via the UAE's national card switch, UAESWITCH, while cross-border transactions outside the GCC will be processed through VisaNet, Visa's global network.
Saif Humaid Al Dhaheri, Chairman of Al Etihad Payments, highlighted that the initiative is a key step towards strengthening the UAE's financial infrastructure, aligning with the nation's goals for digital transformation. He emphasized that the partnership would support economic growth and financial empowerment in the country.
Visa's Dr. Saeeda Jaffar, Senior Vice President for the GCC, noted that while cash still accounts for around 30% of payments, this collaboration will continue to advance the UAE's digital payment ecosystem. She emphasized the importance of further collaboration to extend the benefits of digital payments to more consumers, businesses, and the wider economy.
With this partnership, Al Etihad Payments and Visa are set to drive the next wave of innovation in the UAE's payment landscape, reinforcing the nation's position at the forefront of digital transformation.
News Source: Emirates News Agency
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