Latest news with #JanPilbauer
Zawya
14 hours ago
- 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@
Gulf Insider
28-02-2025
- Business
- Gulf Insider
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.
Hi Dubai
28-02-2025
- Business
- Hi Dubai
UAE Unveils Jaywan, the First Domestic Card Scheme for Digital Payments
Al Etihad Payments (AEP), a subsidiary of the Central Bank of the UAE (CBUAE), has announced the launch readiness of Jaywan, the UAE's first domestic card scheme. This initiative aligns with the UAE's digital transformation strategy, aiming to bolster the country's position as a global hub for digital payments. Jaywan is designed to provide secure, efficient, and innovative payment solutions for both consumers and businesses. The scheme is expected to lower transaction costs by offering a local alternative, accelerate payment processes through the UAESWITCH system, and promote financial inclusion. The cards will be available in various types, including debit, pre-paid, and credit, supporting online transactions, ATM withdrawals, and point-of-sale (POS) payments. AEP has partnered with international payment networks such as Discover, Mastercard, Visa, and UnionPay to enable global usability of Jaywan cards. Additionally, a Memorandum of Understanding (MoU) with Samsung Gulf Electronics will integrate Jaywan cards into the Samsung Wallet. Future plans include expanding compatibility with Google Pay and Apple Pay and establishing bilateral agreements with India and other countries by mid-2025. Saif Humaid Al Dhaheri, CBUAE's Assistant Governor for Banking Operations and Support Services and Chairman of AEP, highlighted Jaywan's role in advancing digital payments and reducing transaction costs. Jan Pilbauer, CEO of AEP, emphasized the scheme's potential to empower users with greater control and convenience while supporting the UAE's economic ambitions. An awareness campaign will launch in April 2025 to educate the public on Jaywan's features, benefits, and contribution to a secure, seamless payment experience. Jaywan represents a significant step in the UAE's journey towards a future-ready financial ecosystem. News Source: Emirates News Agency
Gulf News
27-02-2025
- Business
- Gulf News
UAE launches first domestic card scheme Jaywan
Abu Dhabi: 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. 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. 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. Sign up for the Daily Briefing Get the latest news and updates straight to your inbox
Khaleej Times
27-02-2025
- Business
- Khaleej Times
UAE Central Bank says infrastructure ready to launch Jaywan card locally, globally
The Central Bank of UAE (CBUAE) on Thursday said that financial infrastructure is ready to launch the country's first domestic card — Jaywan — locally and globally. Launched by the Central Bank's subsidiary Al Etihad Payments, the card will help individual customers and companies in reducing payment costs. 'The UAE's domestic card scheme to be activated locally and globally. Jaywan is the first domestic card scheme to be launched in line with the UAE's digital transformation strategy, to strengthen the country's position as a leading global hub for digital payments,' the regulator said on Thursday. Khaleej Times was the first to report about the plan to roll out Jaywan card in the UAE in February last year. The UAE banks began rolling out infrastructure for Jaywan card cash withdrawals in the middle of last year. Ajman Bank was the first to announce integrating Jaywan card across its ATM network. Saif Humaid Al Dhaheri, assistant governor for banking operations and support services, and chairman of Al Etihad Payments, said Jaywan card is part of UAE's plan to localise card payment operations. 'Through this scheme, we aim to reduce payment costs, accelerate the implementation of our digital transformation strategy, and strengthen our commitment to developing more future-ready financial services,' he said. 'Our plans for the next phase include offering Jaywan cards to all customers in the UAE, having considered their needs and expectations, further empowering users with great control, convenience and benefits domestically,' said Jan Pilbauer, CEO of Al Etihad Payments. Debit, credit cards Al Etihad Payments said that many variants of Jaywan card will be available including debit, pre-paid and credit cards, and can be used in all payment channels like online transactions, ATM withdrawals, and point-of-sale (PoS) terminals. Banks and other financial institutions will offer their customers a mono-badge card, i.e. Jaywan only, for local usage as well as in the Gulf Cooperation Council (GCC) countries and others, and a co-badge card in partnership with international payment schemes such as Discover, Mastercard, Visa and Al Etihad also signed an agreement with Samsung Gulf Electronics to enable Jaywan cards into the Samsung Wallet, allowing users to make payments seamlessly via their smartphones. Google Pay and Apple Pay will be added in the next phase.
