Latest news with #AlEtihadPayments
Gulf Today
26-06-2025
- Business
- Gulf Today
'Techno Meet' sheds light on role of technology in financial sector
Sajjad Ahmad, Deputy Business Editor The global remittance market has been growing steadily year on year by 5-6%, and breached the $900 billion mark last year, said Osama Al Rahma, Chairman of Foreign Exchange and Remittance Group (FERG). He said, "The UAE is the second largest country of remittances exports after the United States and its remittance sector is growing as the country is attracting new global talent and visitors." Speaking on the sidelines of 'Techno Meet' event, Al Rahma explained," The UAE remittances industry has shown remarkable growth in recent past and the sector is adopting latest technologies and introducing various solutions for its customers." About the event, he said," This event is a platform for the exchange houses to discuss the upgraded solutions and compliance in the light of the Central Bank of the UAE's digital transformation initiatives to enable them to align with the government strategy. The event also aims to create more awareness for financial inclusion." The Foreign Exchange and Remittance Group (FERG) successfully concluded the third edition of its flagship event, 'Techno Meet', held at the Shangri-La Hotel, Dubai. The day-long event created space for strategic dialogue on the intersection of technology, compliance, and financial operations, emphasising on the critical role of collaboration between exchange houses, banks, regulators, and fintechs in navigating the rapidly evolving digital economy. The event kick-started with a keynote address by Jan Pilbauer, CEO of Al Etihad Payments, who highlighted the transformative potential of digital innovation within the UAE's financial landscape. He outlined both the opportunities and responsibilities that come with accelerating digital transformation, emphasising the need for agile collaboration between institutions, regulators, and technology providers to build a future-ready financial ecosystem. Speaking about the event, Osama Al Rahma said, 'TECHNO MEET reflects FERG's ongoing commitment to advancing financial innovation, regulatory dialogue, and sector-wide collaboration. With every edition, we strengthen our collective capacity to adapt, innovate and grow. I would like to thank all the speakers, partners, and participants who have made this gathering a catalyst for progress.' The event featured panel discussions, technical presentations, networking sessions and live demonstrations, during which participants examined and discussed emerging solutions that are redefining cross-border payments, digital assets, and financial infrastructure. Senior executives and experts from organisations such as Al Etihad Payments, Al Ansari Exchange, Lulu Exchange, Al Fardan Exchange, Fils, McKinsey & Company, EY, Thought Box, Zigram, HODL Consulting, BitOasis, Encryptus and Abhi shared practical insights and case studies, reinforcing the importance of data-driven decision-making, agile innovation, and a compliance-first approach to transformation. Attendees further explored how technology can improve operational efficiency, strengthen governance, and drive customer-centric service models. The event concluded with an awards ceremony recognising key contributors, and a call to continue building bridges between tradition and technology through meaningful dialogue, policy alignment, and innovation partnerships. The Foreign Exchange and Remittance Group (FERG) is a non-profit organisation based on the initiative of the Central Bank of UAE. FERG comprises companies engaged in the business of money exchange and remittances, from large sized companies in the UAE with over 100 branches, to single-branch outlets to join a common platform and work towards mutual benefits. FERG, as an organisation through its members, not only complies with the UAE's financial regulations, but also plays a significant role in providing information to the entire industry and works closely with most of its members to ensure all requirements and implementation are being promoted. The Group has also taken up issues that have led to favourable policy amendments by the Central Bank of the UAE, promoted Emiratisation, and supported the implementation of the Wage Protection System. FERG regularly liaises with national police departments to combat dubious financial transactions and works with the Central Bank to implement strict AML policies.
Zawya
26-06-2025
- Business
- Zawya
FERG champions tech and financial innovation at third edition of Techno Meet
Dubai, UAE – The Foreign Exchange and Remittance Group (FERG) successfully concluded the third edition of its flagship event, TECHNO MEET, held at the Shangri-La Hotel, Dubai. The day-long event created space for strategic dialogue on the intersection of technology, compliance, and financial operations, emphasising on the critical role of collaboration between exchange houses, banks, regulators, and fintechs in navigating the rapidly evolving digital economy. The event kickstarted with a keynote address by Jan Pilbauer, CEO of Al Etihad Payments, who highlighted the transformative potential of digital innovation within the UAE's financial landscape. He outlined both the opportunities and responsibilities that come with accelerating digital transformation, emphasising the need for agile collaboration between institutions, regulators, and technology providers to build a future-ready financial ecosystem. Speaking about the event, Osama Al Rahma, Chairman of FERG said, 'TECHNO MEET reflects FERG's ongoing commitment to advancing financial innovation, regulatory dialogue, and sector-wide collaboration. With every edition, we strengthen our collective capacity to adapt, innovate and grow. I would like to thank all the speakers, partners, and participants who have made this gathering a catalyst for progress.' The event featured panel discussions, technical presentations, networking sessions and live demonstrations, during which participants examined and discussed emerging solutions that are redefining cross-border payments, digital assets, and financial infrastructure. Senior executives and experts from organisations such as Al Etihad Payments, Al Ansari Exchange, Lulu Exchange, Al Fardan Exchange, Fils, McKinsey & Company, EY, Thought Box, Zigram, HODL Consulting, BitOasis, Encryptus and Abhi shared practical insights and case studies, reinforcing the importance of data-driven decision-making, agile innovation, and a compliance-first approach to transformation. Attendees further explored how technology can improve operational efficiency, strengthen governance, and drive customer-centric service models. The event concluded with an awards ceremony recognising key contributors, and a call to continue building bridges between tradition and technology through meaningful dialogue, policy alignment, and innovation partnerships. About FERG The Foreign Exchange and Remittance Group (FERG) is a non-profit organisation based on the initiative of the Central Bank of UAE. FERG comprises companies engaged in the business of money exchange and remittances, from large sized companies in the UAE with over 100 branches, to single-branch outlets to join a common platform and work towards mutual benefits. FERG, as an organisation through its members, not only complies with the UAE's financial regulations, but also plays a significant role in providing information to the entire industry and works closely with most of its members to ensure all requirements and implementation are being promoted. The Group has also taken up issues that have led to favourable policy amendments by the Central Bank of the UAE, promoted Emiratisation, and supported the implementation of the Wage Protection System. FERG regularly liaises with national police departments to combat dubious financial transactions and works with the Central Bank to implement strict AML policies. For Media Queries: Anas Khaleliah akhaleliah@
Zawya
10-06-2025
- Business
- Zawya
Al Etihad Payments elected to PCI SSC Board of Advisors for 2025–2027 term
Abu Dhabi, UAE – Al Etihad Payments (AEP), a subsidiary of the Central Bank of the UAE, has been elected to the 2025–2027 Board of Advisors for the Payment Card Industry Security Standards Council (PCI SSC). AEP is among the first organizations from the Middle East to be elected to this global body driven by the UAE's growing leadership in cybersecurity and payment system resilience on the international stage. The PCI Security Standards Council (PCI SSC) leads a global, cross-industry effort to increase payment security by providing industry-driven, flexible, and effective data security standards and programs that help businesses detect, mitigate, and prevent cyberattacks and breaches. Hani Bani Amer, Head of Information Security at AEP, will represent AEP as one of 64 global board members. He will serve as a strategic partner to the PCI SSC, contributing industry, regional, and technical expertise to support the Council's mission of enhancing global payment security. The PCI SSC Board of Advisors plays a vital role in guiding the Council's priorities and standard-setting initiatives. Members provide critical insights on global payment security trends, regional regulatory landscapes, and emerging technologies. 'Being elected to the PCI SSC Board of Advisors is both an honor and a responsibility', said Hani Bani Amer. 'Through our participation, we aim to ensure that our regional unique insights and perspectives are represented in the development of global standards, ultimately benefiting stakeholders locally and internationally. I look forward to working closely with my fellow Board members to advance strong, future-ready payment security standards that address today's challenges and tomorrow's cybersecurity threats.' The new Board includes representatives from 61 organizations, reflecting the PCI SSC's commitment to global inclusion. Members come from a wide range of sectors, including issuers, acquirers, merchants, processors, service providers, and technology companies. Nitin Bhatnagar, Regional Director India, South Asia and Middle East, PCI Security Standards Council said, 'Al Etihad Payments' participation on the new 2025-2027 board of advisors from the Middle East (UAE) region is a critical voice that will help ensure greater regional input into our payment security standards, providing even more opportunities for discussion and collaboration with some of the most innovative voices in our industry. This term, in acknowledgment of the payments industry's ever-changing needs, the Board of Advisors has been expanded to a record 64 stakeholders, providing the Council with a broader range of views. The Board of Advisors will also be responsible for voting on new standards and major revisions to existing standards prior to their release. We are thrilled to welcome Al Etihad Payments to the newly elected 2025-2027 Board of Advisors.' AEP continues to play a key role in advancing the UAE's digital economy through initiatives such as Aani, the real-time payments platform, and Jaywan, the domestic card scheme. AEP is building a secure, resilient, and inclusive payments ecosystem. Both platforms are designed to meet local market needs while embedding global best practices for data protection and transaction security. By joining the PCI SSC Board of Advisors, AEP strengthens its commitment to adopting and shaping industry-driven, flexible, and effective security standards that safeguard sensitive payment data across every layer of the digital payments journey from cards to real-time transfers. About Al Etihad Payments Al Etihad Payments (AEP), a subsidiary of the Central Bank of the UAE, is the national payments entity of the UAE, leading the development and operation of world-class payment infrastructure. Its mission supports the government's push towards a digitally advanced society. AEP is focused on delivering innovative, easy-to-use payment solutions, helping financial institutions improve customer experience, and building a strong, secure, and efficient financial ecosystem for the country. For more information, visit
Khaleej Times
20-05-2025
- Business
- Khaleej Times
Jaywan: UAE's new domestic card payment scheme; all your questions answered
In today's fast-paced digital economy, seamless, secure, and cost-effective payment solutions are essential for both consumers and businesses. The way we pay for goods and services is evolving rapidly, with an increasing focus on digital transactions. While global payment networks have long dominated the landscape, many countries are now developing their own domestic card schemes to strengthen financial sovereignty, enhance economic efficiency, and provide more tailored solutions for their citizens. The UAE is no exception to this trend. Recognising the need for a homegrown payment solution that aligns with the country's economic ambitions and consumer needs, Al Etihad Payments, a subsidiary of the Central Bank of the UAE, has launched Jaywan, the nation's domestic card scheme. Here is all you need to know about Jaywan card: What is Jaywan? Built for the UAE, by the UAE, Jaywan is the UAE's national card payment scheme, meaning it provides a homegrown option to internationally issued debit and prepaid cards. What is the purpose? For many years, transactions in the UAE have been processed primarily through global card networks. While these networks provide convenience, they also limit the ability to customise solutions for local needs and increase reliance on external payment systems. The primary goal of Jaywan is to strengthen the country's payment infrastructure by offering an efficient, secure, and widely accepted payment solution that aligns with national economic priorities. What kinds of cards does Jaywan offer right now? There are a range of cards tailored to different customer needs. These include: * Debit cards are issued by participating banks as they will allow consumers to make purchases and withdraw cash directly from their bank accounts. They provide an easy and secure way to manage daily expenses. * Prepaid cards are ideal for budgeting and controlled spending. They can be loaded with a set amount of funds, making them useful for travel, gifting, and specific spending purposes. * Credit cards will initially launch with debit and prepaid cards. However, if there is sufficient demand, it will expand to include credit cards as well. Can international transactions be made with a Jaywan card? Jaywan allows consumers to make both domestic and international transactions while ensuring that more financial value remains within the UAE. What are Jaywan's unique features? * Cards can be used across the UAE and globally due to strategic partnerships with international networks such as Visa, Mastercard, Discover, and UnionPay. * Build with EMV chip technology, tokenisation, and advanced fraud monitoring to ensure secure transactions. * Offers debit and prepaid cards, with plans for additional product types based on market needs. * Supports tap-to-pay functionality and digital wallet integration for convenience and speed. What are the general benefits? By introducing Jaywan, the UAE benefits in several ways: * Ensures that payment processing is managed within the country, reducing dependence on external providers * Offers businesses a cost-effective option and reduces operational expenses. * Keeps a greater portion of transaction fees within the UAE's economy, supporting financial institutions and merchants. * Customised services and benefits to meet the unique needs of UAE residents and businesses. What will consumers or businesses gain? Jaywan is designed to benefit the entire ecosystem - from everyday consumers to small businesses and large enterprises. By offering a secure, locally managed, and cost-efficient option, Jaywan creates tangible value on both sides of a transaction. Consumers * Whether shopping online or in-store, Jaywan ensures a seamless and protected transaction experience. * Jaywan cards support NFC-enabled tap-and-go payments and integration with mobile wallets. * Thanks to partnerships with major international networks, Jaywan can be used both within the UAE and abroad. * As a UAE-based card scheme, Jaywan is designed specifically for the UAE's residents, offering localised benefits such as merchant discounts and exclusive access to certain services within the country. Businesses * Jaywan reduces the cost of payment processing, making it a more affordable proposition for businesses of all sizes * Jaywan provides smaller merchants with cost-effective digital payment acceptance, driving financial inclusion and reducing reliance on cash.
Arabian Business
15-04-2025
- Business
- Arabian Business
Al Etihad Payments signs global co-badging deals for Jaywan cards with major payment giants
Al Etihad Payments (AEP), a subsidiary of the Central Bank of the UAE (CBUAE), announced the signing of strategic co-badging agreements with leading international card schemes, including Discover, Mastercard, UnionPay and Visa. The agreements are aimed at enhancing the usage of Jaywan, the UAE's domestic card scheme, by enabling international transactions while ensuring a strong and efficient domestic payment network. Strategic co-badging partnerships announced The tie-up with international card issuing companies will provide Jaywan cardholders the flexibility to transact worldwide, leveraging the reach of their payment networks. Within the UAE, Jaywan transactions will continue to be processed securely through UAESWITCH, maintaining a high standard of reliability and performance, Al Etihad Payments said. Saif Al Dhaheri, Chairman of Al Etihad Payments, said the company is leveraging advanced technology and strategic partnerships to create a secure and efficient payment ecosystem that aligns with the nation's vision for innovation and financial empowerment. Al Etihad Payments said Jaywan will introduce debit and prepaid co-badged cards for everyday transactions, salary disbursements, and secure cross-border payments. UAE financial institutions will begin issuing Jaywan co-badged cards from H2 of 2025, it said.
