UAE Central Bank confirms Jaywan card is ready for local and global launch

UAE Set to Launch First Domestic Payment Card for Local and Global Transactions

The UAE’s financial infrastructure is now fully prepared to introduce the country’s first domestic payment card, with the goal of improving payment efficiency both locally and globally. The initiative is part of the country’s digital transformation strategy, which strengthens its position as a major worldwide hub for digital transactions.

A Milestone in UAE’s Digital Payment Evolution

The National Payments Authority’s newly introduced domestic card provides secure and seamless financial operations while lowering transaction costs for both individuals and enterprises.
The project is part of a larger plan to increase the country’s financial independence and promote locally-sourced payment alternatives.
Preparations for the card’s integration into banking systems began last year, with financial institutions preparing to enable withdrawals and transactions using current infrastructure. Several banks have already integrated the card into their ATM networks, facilitating smooth access for customers.

Enhancing Financial Control and Accessibility

The card represents a big step forward in the country’s ambitions to localize card payment operations, giving it greater control over transaction costs and financial services. Customers can make transactions through a variety of channels, including internet payments, ATM withdrawals, and point-of-sale (PoS) terminals, thanks to the availability of different card types like as debit, prepaid, and credit cards.

Banks and financial institutions supply two types of cards: a single-network card for local and regional use, which includes some international markets, and a dual-network card for use with worldwide payment providers.

Seamless Integration with Digital Wallets and Future Expansion

To increase accessibility, agreements have been reached with major mobile payment platforms, allowing the card to be connected to digital wallets. Initially, customers will be able to pay using specific mobile devices, with more platforms to be introduced in the future.

The card’s acceptability will grow beyond the UAE, with agreements in place to allow transactions in other countries by mid-2025. This extension will enable cross-border payments, allowing users additional flexibility in managing their accounts abroad.

With the implementation of this indigenous payment system, the UAE continues to promote financial innovation, providing secure, cost-effective, and efficient transactions for both people and enterprises.