UAE’s Financial Sector Advances with Jaywan-Visa Partnership

In a significant move towards enhancing the UAE’s financial ecosystem, Al Etihad Payments, a subsidiary of the Central Bank of the UAE (CBUAE), has announced a strategic partnership with Visa. The collaboration introduces Jaywan-Visa debit and prepaid cards, reinforcing the nation’s commitment to digital transformation and financial accessibility.

Revolutionizing Payment Systems in the UAE

The partnership between Al Etihad Payments and Visa will facilitate the issuance of co-branded Jaywan-Visa cards through local financial institutions, fintech firms, and merchant partners. With these dual-branded cards, customers can seamlessly conduct transactions within the UAE and across Visa’s extensive global network.

Domestic transactions will be processed via UAESWITCH, the national card switch managed by Al Etihad Payments, while international transactions outside the GCC region will be handled through VisaNet. This integrated system aims to enhance transaction security, efficiency, and accessibility.

Commenting on this initiative, Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services at CBUAE and Chairman of Al Etihad Payments, highlighted:

Dr. Saeeda Jaffar, Visa’s Senior Vice President and Group Country Manager for the GCC, also emphasized the importance of the initiative:

Holders of the Jaywan-Visa cards will gain access to several advantages, including:

• Widespread Global Usage: Acceptance at 150 million Visa-affiliated merchants in 200 countries.
• Optimized Local Transactions: Processed via UAESWITCH for increased efficiency and cost-effectiveness.
• Enhanced Security Features: Supported by Visa’s advanced fraud prevention technologies.
• Boost to the UAE’s Digital Economy: A step forward in reducing cash dependency and promoting financial inclusivity.

The introduction of Jaywan-Visa cards is expected to accelerate the adoption of cashless transactions across the UAE. As the country continues its push towards a digitally-driven financial landscape, this partnership plays a crucial role in bridging traditional banking with modern payment innovations.

For more details, you can access the official CBUAE document here:
Jaywan – The UAE’s First Domestic Card Scheme (CBUAE)