UAE banks, financial institutions and licensed exchange houses have started issuing Jaywan cards to customers, more than two years after the national payment system was launched.
The move reflects the UAE’s commitment to continue building a “more efficient, flexible and competitive financial sector”, expanding financial inclusion and reinforcing the country’s position as a global financial hub, Wam cited Sheikh Mansour as saying.
Banks and licensed financial institutions have begun issuing Jaywan cards in stages, which will continue over the coming months, the report said.
First Abu Dhabi Bank and Commercial Bank of Dubai on Monday confirmed they were now launching the cards.
FAB, the largest lender in the UAE by assets, said it was launching the Jaywan debit card, which is currently available for domestic use. It will be available to customers holding eligible FAB accounts, enabling them to manage their finances through the FAB Mobile app, the lender said.
CBD, meanwhile, launched prepaid Jaywan cards, issued under a corporate arrangement, to be used by retail customers.
Payment processing firm Network International, which activated the system among its merchants, also said on Monday that it has integrated Jaywan card acceptance into online payments. “Customers can now use their Jaywan cards across thousands of Network’s online merchants in the UAE, with no additional fees for merchants on Jaywan transactions processed through the gateway,” the company said.
The Jaywan initiative, launched in 2024, aims to boost financial inclusion and reduce the cost of payments in the country. It is operated by Al Etihad Payments, the country’s national payments entity, which is a subsidiary of the UAE Central Bank. The payment system is expected to play a key role in advancing the nation’s digital transformation agenda.
How does Jaywan card work?
Jaywan cards can be used for both domestic and international payment transactions, in accordance with applicable rules and regulations, offering users a secure and seamless payment experience, according to the UAE Central Bank.
Jaywan card is a national domestic card payment scheme rather than a standalone global credit or debit card network. Local transactions are routed through the UAE’s own domestic payment infrastructure instead of foreign networks like Visa or Mastercard, lowering merchant processing fees and keeping financial value within the country, according to Al Etihad Payments.
Similarly, there are many well-established national card schemes around the world. These include Interac in Canada, Bancomat in Italy, mada in Saudi Arabia, Troy in Turkey and RuPay in India.
UAE approves new digital currency – why it matters
All categories of Jaywan cards are accepted at point-of-sale terminals, e-commerce platforms, ATMs and digital wallets, supporting contactless payments, online purchases, and cash withdrawals, the Wam report said on Monday. They can also be used for local and international payments, subject to approved regulations.
Jaywan cardholders also enjoy “benefits and offers, in co-operation with a number of strategic partners, covering the travel, shopping, hospitality and lifestyle sectors”, it said.
Khaled Balama, governor of the UAE Central Bank, said the launch represents a “qualitative leap” in the development of payment services in the UAE. “We will continue to work with our partners to develop a more advanced financial system that supports economic growth and enhances customer experience,” he said.
