Jaywan (payment system)

History

2025: System Launch

In the United Arab Emirates, the first national payment card system Jaywan has been launched. The project was carried out by Al Etihad Payments (AEP), owned by the UAE Central Bank. An official confirmation of this was published on February 27, 2025.

It is noted that the financial infrastructure is fully ready to work both within the country and abroad. The payment system was created as part of a digital transformation strategy and is aimed at strengthening the position of the UAE in the field of digital finance.

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Фото: aletihad.ae

According to Aletihad, the new payment system is designed to offer consumers and companies a safe, effective and innovative transaction solution. Jaywan is focused on reducing transaction costs by providing an effective local alternative to international payment systems, as well as improving the speed of processing local payments through the UAESWITCH system.

Jaywan's payment system will be available in a variety of options, including debit, prepaid and credit cards (in the basic and premium categories). Cardholders will be able to use them to conduct online transactions, withdraw funds from ATMs and pay for purchases through terminals in retail outlets.

The UAE's licensed financial institutions will offer their customers two types of Jaywan cards: mono-branded cards with a single Jaywan logo for use locally, in Gulf Arab Cooperation Council countries and a number of other countries, as well as co-branded cards with two logos - Jaywan and the international payment system - to facilitate use both locally and globally.

AEP has signed agreements and partnership agreements with major international payment networks, including Discover, Mastercard, Visa and UnionPay, to expand international card usage opportunities. These partnerships will allow Jaywan cardholders to use them around the world.^[1]

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