Latest news with #AlEtihadPayments
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.
Khaleej Times
14-04-2025
- Business
- Khaleej Times
Al Etihad Payments signs Jaywan co-badging agreements with international card schemes
Al Etihad Payments (AEP), a subsidiary of the Central Bank of the UAE (CBUAE), has announced the signing of strategic co-badging agreements with leading international card schemes, including Discover Mastercard, UnionPay and Visa. These agreements enhance Jaywan, the UAE's Domestic Card Scheme, by enabling international transactions while ensuring a strong and efficient domestic payment network. With these partnerships, Jaywan cardholders will have the flexibility to transact worldwide, leveraging the global reach of leading international payment networks. Within the UAE, transactions will continue to be processed securely through UAESWITCH, maintaining a high standard of reliability and performance. Saif Al Dhaheri, Chairman of Al Etihad Payments, said: 'Jaywan is a key step toward strengthening the UAE's financial infrastructure, offering a locally rooted payment solution that supports economic growth and digital transformation. We are leveraging advanced technology and strategic partnerships, and we are creating a secure, and efficient payment ecosystem that aligns with the nation's vision for innovation and financial empowerment.' 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. Jaywan co-badge cards will provide international acceptance, and cardholders can use their cards abroad, ensuring that travel and cross-border payments remain seamless. These partnerships enhance Jaywan's usability by extending its reach to international merchants, ATMs, and online payment platforms, allowing users to transact effortlessly both in the UAE and beyond.
Yahoo
14-04-2025
- Business
- Yahoo
Al Etihad Payments enters co-badging agreements on card schemes
Al Etihad Payments, a subsidiary of the Central Bank of the UAE, has signed co-badging agreements with global card schemes, including Discover, Mastercard, UnionPay, and Visa. These partnerships aim to enhance Jaywan, the UAE's Domestic Card Scheme, by enabling international transactions while maintaining an efficient domestic payment network. The agreements will allow Jaywan cardholders to transact worldwide, tapping into the networks of these international payment providers. Within the UAE, transactions will continue to be processed through UAESWITCH. Jaywan will introduce debit and prepaid co-badged cards, which will be used for everyday transactions, salary disbursements, and cross-border payments. UAE financial institutions are expected to start issuing these co-badged cards from the second half of 2025. The co-badge cards will offer international acceptance, allowing cardholders to use their cards abroad for cross-border payments. The move is expected to enhance Jaywan's usability by extending its reach to international merchants, ATMs, and online payment platforms. Al Etihad Payments chairman Saif Al Dhaheri said: 'Jaywan is a key step toward strengthening the UAE's financial infrastructure, offering a locally rooted payment solution that supports economic growth and digital transformation." Last month, Al Etihad also entered agreement with UnionPay International to introduce co-badge cards in the UAE that feature the logos of both Jaywan and UnionPay. These cards will operate on Jaywan's domestic payment network for local transactions while providing access to UnionPay's global network, which spans over 180 countries and regions. "Al Etihad Payments enters co-badging agreements on card schemes " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Zawya
14-04-2025
- Business
- Zawya
Al Etihad Payments signs Jaywan co-badging agreements with international card schemes
UAE financial institutions will begin issuing Jaywan co-badged cards from H2 of 2025 Abu Dhabi – Al Etihad Payments (AEP), a subsidiary of the Central Bank of the UAE (CBUAE), has announced the signing of strategic co-badging agreements with leading international card schemes, including Discover®️, Mastercard, UnionPay and Visa. These agreements enhance Jaywan, the UAE's Domestic Card Scheme, by enabling international transactions while ensuring a strong and efficient domestic payment network. With these partnerships, Jaywan cardholders will have the flexibility to transact worldwide, leveraging the global reach of leading international payment networks. Within the UAE, transactions will continue to be processed securely through UAESWITCH, maintaining a high standard of reliability and performance. Saif Al Dhaheri, Chairman of Al Etihad Payments, said: 'Jaywan is a key step toward strengthening the UAE's financial infrastructure, offering a locally rooted payment solution that supports economic growth and digital transformation. We are leveraging advanced technology and strategic partnerships, and we are creating a secure, and efficient payment ecosystem that aligns with the nation's vision for innovation and financial empowerment.' 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. Jaywan co-badge cards will provide international acceptance, and cardholders can use their cards abroad, ensuring that travel and cross-border payments remain seamless. These partnerships enhance Jaywan's usability by extending its reach to international merchants, ATMs, and online payment platforms, allowing users to transact effortlessly both in the UAE and beyond. About Al Etihad Payments Al Etihad Payments (AEP), as the national payments entity in the UAE, plays a crucial role in developing and operating the best-in-class national payments infrastructure. Driven by a mission to support the government's vision of a society less reliant on cash and national digitization, AEP strategically positions itself to provide innovative and interoperable payment solutions, enable financial institutions to enhance customer experience, and fortify a robust, efficient, and secure financial market infrastructure for the UAE. For more information, please visit Al Etihad Payments website: Media Contact Jensen Matthews PR on behalf of Al Etihad Payments Loredana Matei loredana@
