The United Arab Emirates has launched its first domestic card payment scheme, known as the Jaywan card, marking a significant advancement in the country’s financial infrastructure. Introduced by Al Etihad Payments, a subsidiary of the Central Bank of the UAE, the initiative aims to reduce dependence on international payment networks such as Visa and Mastercard and enhance control over payment processing within the country.
The rollout of Jaywan cards is currently underway in phases, with several banks and financial institutions issuing the cards to their customers. First Abu Dhabi Bank has already introduced a Jaywan debit card, while the Commercial Bank of Dubai is issuing Jaywan prepaid cards. Additionally, online payments via the Jaywan network have been enabled through Network International, allowing transactions with thousands of merchants across the UAE. More banks are expected to join the scheme as the rollout progresses.
Jaywan offers several benefits for both individual users and the broader UAE economy. By providing a local alternative to global card networks, the scheme aims to lower transaction fees and banking costs, potentially leading to more affordable debit cards and reduced merchant processing expenses. The scheme also ensures that payment data is securely processed and stored domestically, enhancing data privacy and security. Moreover, by leveraging the UAESWITCH system, Jaywan enables faster and more efficient processing of local transactions.
The Jaywan card program currently includes three product options: the Jaywan Prestige Debit Card, Jaywan Royal Debit Card, and Jaywan Prepaid Card. The debit cards come with various offers spanning travel, dining, shopping, groceries, hotels, car rentals, and entertainment venues, while the prepaid card focuses on budgeting and expense management. Jaywan cards are accepted for in-store and online purchases, ATM withdrawals, and are compatible with digital wallets. International usage varies depending on the card type and issuing bank policies.
The development of Jaywan was supported through a collaboration with India’s NPCI International Payments Limited (NIPL), the organisation behind the RuPay domestic card scheme. Established in October 2023, the partnership drew on RuPay’s experience to build a nationally governed payment network tailored to the UAE market.
Looking ahead, Al Etihad Payments has partnered with Mastercard to launch a co-badged Jaywan-Mastercard credit card, combining local and international payment networks. This arrangement allows transactions to be processed via Jaywan within the UAE and Mastercard’s network globally, subject to terms from issuing banks. The partnership also includes the issuance of co-badged debit and prepaid cards, expanded transaction processing capabilities, and the establishment of a Mastercard operations center in the UAE.
The introduction of Jaywan reflects the UAE’s broader strategy to develop financial independence and innovation, offering residents and businesses a potentially cheaper, faster, and more secure alternative to traditional card payment options. The scheme’s gradual expansion promises to deepen the country’s domestic payment ecosystem in the coming months.