UAE starts issuing Jaywan cards to banks and financial institutions

The United Arab Emirates has officially launched its first national payment system, Jaywan, with banks and financial institutions beginning to issue the cards to customers. The initiative was formally announced by Sheikh Mansour bin Zayed, Vice President, Deputy Prime Minister, Chairman of the Presidential Court, and chairman of the board of directors of the UAE Central Bank, according to state news agency Wam. The rollout marks a major step forward in the UAE's efforts to modernize its financial infrastructure and enhance digital capabilities across the economy. The introduction of Jaywan cards comes as part of the UAE’s broader strategy to build a more efficient, flexible, and competitive financial sector. According to Wam, Sheikh Mansour emphasized the importance of this development in expanding financial inclusion and strengthening the UAE’s status as a leading global financial center. Banks and licensed financial institutions have begun issuing the cards in phases, with the process expected to continue over the coming months. First Abu Dhabi Bank (FAB) and the Commercial Bank of Dubai (CBD) confirmed they had started rolling out Jaywan cards. FAB, the largest bank in the UAE by total assets, introduced the Jaywan debit card, which is currently limited to domestic use. Customers who hold eligible FAB accounts can access the card through the FAB Mobile app, allowing them to manage their finances digitally. Meanwhile, CBD launched prepaid Jaywan cards under a corporate arrangement, intended for retail customers. Network International, a prominent payment processing firm, also announced that it had integrated Jaywan card acceptance into its online payment systems. This means that customers can now use their Jaywan cards on thousands of online merchants within the UAE, without additional fees for merchants handling these transactions. The integration underscores the growing adoption of the system by businesses and service providers. Launched in 2024, the Jaywan initiative aims to improve financial inclusion and lower the cost of payments throughout the country. Operated by Al Etihad Payments, the UAE’s national payments entity and a subsidiary of the UAE Central Bank, the system is expected to play a crucial role in advancing the nation’s digital transformation goals. Jaywan cards support both domestic and international transactions, adhering to relevant regulations and providing users with a secure and convenient payment experience, according to the UAE Central Bank. Jaywan cards are widely accepted at point-of-sale terminals, e-commerce platforms, ATMs, and digital wallets. They facilitate contactless payments, online purchases, and cash withdrawals. Additionally, cardholders can use them for local and international transactions, depending on regulatory approvals. The Wam report highlighted that cardholders benefit from various promotions and offers in collaboration with strategic partners across sectors such as travel, shopping, hospitality, and lifestyle. Khaled Balama, governor of the UAE Central Bank, described the launch as a “qualitative leap” in the evolution of payment services in the UAE. He stated that the central bank would continue working with its partners to develop a more sophisticated financial system that supports economic growth and improves customer experiences. The initiative aligns with the UAE’s long-term vision to become a global leader in financial innovation and technology. As the rollout continues, more banks and financial institutions are expected to join the network, further expanding the reach and utility of Jaywan cards. The system’s success could influence other Gulf Cooperation Council countries looking to implement similar digital payment solutions. With ongoing enhancements and partnerships, Jaywan is positioned to become a cornerstone of the UAE’s financial ecosystem.