Al Etihad Payments, a wholly owned subsidiary of the Central Bank of the UAE (CBUAE), has partnered with Visa to introduce "Jaywan-Visa" debit and prepaid cards in the UAE. This strategic collaboration supports the nation’s push toward a cashless, digital economy by providing a secure and seamless payment solution for consumers and businesses.
Expanding Digital Payment Solutions
The co-badged cards, featuring both Jaywan and Visa logos, will enable customers to transact securely within the UAE while offering international payment access at Visa’s 150 million merchant partners across 200 countries and territories.
Under the agreement:
- Domestic transactions within the UAE will be processed through UAESWITCH, the national card switch.
- Cross-border transactions outside the GCC will be routed via Visa’s global network, VisaNet.
Strengthening the UAE’s Financial Infrastructure
Saif Humaid Al Dhaheri, CBUAE’s Assistant Governor for Banking Operations and Chairman of Al Etihad Payments, stated:
"Jaywan is a key step toward strengthening the UAE's financial infrastructure by offering a locally rooted payment solution that drives economic growth and digital transformation. This partnership creates a seamless, secure, and efficient card payment ecosystem aligned with the UAE’s vision for financial innovation."
Driving Digital Adoption
Dr. Saeeda Jaffar, Senior Vice President and Group Country Manager for Visa in the GCC, highlighted the significance of this initiative, noting:
"With around 30% of payments still made in cash, this agreement extends the benefits of digital payments to more consumers and businesses, supporting the UAE’s transition toward a fully digital economy."
She emphasized Visa’s ongoing commitment to enhancing security, reliability, and innovation while collaborating with local financial institutions, fintechs, and merchants to ensure a wider adoption of digital payments.
This partnership marks a significant milestone in the UAE’s financial landscape, reinforcing its position as a leader in digital transformation and fostering greater financial inclusion across the economy.
News Source: Emirates News Agency
