Al Etihad Payments, Visa Partner To Launch 'Jaywan-Visa' Cards In UAE

Al Etihad Payments, a subsidiary of the Central Bank of the UAE (CBUAE), has partnered with Visa to launch "Jaywan-Visa" debit and prepaid cards in the UAE. Al Etihad Payments manages the national card switch (UAESWITCH) and the domestic card scheme "Jaywan."

"Jaywan is a key step toward strengthening the UAE's financial infrastructure, offering a locally rooted payment solution that supports economic growth and digital transformation," Saif Humaid Al Dhaheri, the CBUAE's Assistant Governor for Banking Operations and Support Services and Chairman of Al Etihad Payments said, WAM reported.

"Under this partnership between Al-Etihad Payments and Visa, we are creating a seamless, secure, and efficient card payment ecosystem that aligns with the UAE's vision for innovation and financial empowerment," he added.

Jaywan-Visa Cards to Enhance Secure Digital Payments in UAE and Beyond

This partnership supports the UAE's goal of moving towards a digital economy by offering more advanced payment solutions. Al Etihad Payments and Visa will collaborate with local banks, fintech companies, and merchants to issue these co-branded cards.

The new cards will come with various benefits and value-added services to meet customer needs. The new "Jaywan-Visa" cards will feature both Jaywan and Visa logos, allowing customers to make secure payments within the UAE and at over 150 million Visa merchants across 200 countries and territories.

This will enable convenient transactions while traveling abroad or shopping online. Under the agreement, payments made within the UAE will be processed through the national card switch, UAESWITCH.

For international transactions outside the GCC region, Visa's global network, VisaNet, will handle the processing.

Visa Expands Digital Payment Solutions to Boost UAE's Cashless Economy

Saeeda Jaffar, Visa's Senior Vice President and Group Country Manager for the GCC, highlighted that around 30% of payments in the UAE are still made with cash.

She emphasized Visa's commitment to working with industry partners to expand digital payment solutions for consumers, businesses, and the overall UAE economy. She also noted that the UAE is leading in digital transformation, with further opportunities for growth through collaboration across industries.

This agreement reinforces Visa's focus on providing secure, reliable, and innovative payment solutions for Jaywan-Visa cardholders and merchants both in the UAE and worldwide.