UAE's first domestic card scheme launched

The UAE has launched the Jaywan scheme, a domestic card scheme, available in debit, pre-paid and credit card form, and can be used in all payment channels like online transactions, ATM withdrawals, and point-of-sale (POS) terminals.

Al Etihad Payments (AEP), a subsidiary of the Central Bank of the UAE (CBUAE), announced Jaywan, saying the scheme can be activated locally and globally.

Jaywan is the first domestic card scheme to be launched in line with the UAE’s digital transformation strategy, with the aim of strengthening the country’s position as a leading global hub for digital payments.

Jaywan’s scheme aims to offer consumers and businesses a secure, efficient, and innovative payment solution, lower transaction costs by providing an effective local alternative, increase efficiency by accelerating local payment processes using the UAESWITCH, support economic growth, stimulate innovation in the field of payments, promote e-commerce, develop financial inclusion, and provide financial services that meet all requirements of the society.

Licenced financial institutions will offer their customers two types of Jaywan cards, as required by the customer: a mono-badge card, Jaywan only, for local usage as well as in the Gulf Cooperation Council (GCC) countries and others, and a co-badge card in partnership between Jaywan and international payment schemes to facilitate their use locally and globally.

AEP has signed agreements and partnerships with international payment networks including Discover, Mastercard, Visa, and UnionPay, to enable customers in the UAE to use Jaywan cards and expand their global usability. AEP has also signed a Memorandum of Understanding (MoU) with Samsung Gulf Electronics to enable Jaywan cards into the Samsung Wallet, allowing users to make payments seamlessly via their smartphones.

The next phase will also see implementation of Jaywan on Google Pay and Apple Pay, in addition to bilateral agreements with India by mid-2025 and other countries, further expanding Jaywan's usability outside the UAE.