The Central Bank of the United Arab Emirates (CBUAE) has announced the readiness of the financial infrastructure for Jaywan, the UAE's first domestic card scheme, which is set to be activated locally and globally. This initiative is part of the UAE's digital transformation strategy and aims to solidify the country's position as a leading global hub for digital payments.

Jaywan is designed to offer consumers and businesses a secure, efficient, and innovative payment solution. It will lower transaction costs by providing a local alternative, increase efficiency through the UAE's payment infrastructure, support economic growth, stimulate innovation in payments, promote e-commerce, and enhance financial inclusion.

Jaywan cards will be available in various forms, including debit, prepaid, and credit cards. They will be accepted across all payment channels, such as ATMs, point-of-sale terminals, and e-commerce transactions. The cards will be offered in different tiers, such as basic and premium, with features tailored to meet the specific needs of customers.

Licensed financial institutions will provide their customers with two types of Jaywan cards: mono-badge cards for local and GCC usage, and co-badge cards in partnership with international payment networks for both local and international usage. Al Etihad Payments (AEP), a subsidiary of the CBUAE, has signed agreements with international payment networks like Discover, Mastercard, Visa, and UnionPay to enable global usability of Jaywan cards. Additionally, AEP has signed a Memorandum of Understanding (MoU) with Samsung Gulf Electronics to integrate Jaywan cards into the Samsung Wallet, allowing users to make payments via their smartphones. Future plans include implementing Jaywan on Google Pay and Apple Pay, as well as bilateral agreements with India by mid-2025 and other countries to expand Jaywan's global reach.

In April 2025, AEP will launch an awareness campaign to highlight the features and benefits of Jaywan, emphasizing how individual customers and companies can benefit from its innovative services. The campaign will also underscore the local payment card scheme's role in reducing payment costs and providing a secure and seamless payment experience.

H.E. Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services at the CBUAE and Chairman of Al Etihad Payments, said, "Jaywan is one of the key initiatives that align with the UAE's vision and strategic aspirations for digital payments. It aims to reduce payment costs, accelerate our digital transformation strategy, and develop more future-ready financial services."

Jan Pilbauer, CEO of Al Etihad Payments, added, "We have worked closely with industry stakeholders to build a new national card scheme. Our next phase includes offering Jaywan cards to all UAE customers, empowering them with greater control, convenience, and benefits. Jaywan is a significant step in building a more flexible and successful infrastructure for future payments that supports the UAE's economic ambitions."

The announcement marks a significant milestone in the UAE's journey towards digital payment innovation and global financial leadership.