The United Arab Emirates has taken a significant step forward in enhancing its financial infrastructure with Al Etihad Payments, the operator of the national card switch UAESWITCH and the domestic card scheme Jaywan, partnering with Visa. This collaboration will introduce co-badged ‘Jaywan – Visa’ debit and prepaid cards, allowing UAE customers to make payments both domestically and internationally. The cards will feature both Jaywan and Visa logos, enabling users to transact at over 150 million merchant locations across more than 200 countries and territories.
This initiative marks the first co-badged Jaywan card that can be used for online payments and international travel, providing UAE residents with greater flexibility and convenience. For local and GCC transactions, banks will offer mono-badge Jaywan cards, while co-badged cards will be available for international payments through partnerships with major schemes like Discover, Mastercard, Visa, and UnionPay.
Transactions within the UAE will be processed via UAESWITCH, while cross-border transactions outside the GCC will utilize Visa’s global network, VisaNet. Al Etihad Payments, a subsidiary of the Central Bank of the UAE, aims to reduce payment costs for individuals and businesses through the Jaywan card. The Central Bank has confirmed that the infrastructure is ready to launch Jaywan both locally and globally.
Saif Humaid Al Dhaheri, Chairman of Al Etihad Payments, highlighted that the partnership with Visa will create a seamless, secure, and efficient payment ecosystem. He emphasized that Jaywan is crucial for strengthening the UAE’s financial infrastructure and supporting economic growth and digital transformation. Dr. Saeeda Jaffar from Visa noted that despite a significant portion of payments still being made in cash, they look forward to expanding digital payment benefits across the UAE.
This collaboration aligns with the UAE’s efforts to enhance its financial systems and promote digital payments, which are essential for economic development and reducing reliance on cash transactions.
