Al Etihad Payments, a subsidiary of the Central Bank of the UAE (CBUAE), has partnered with global payment giant Visa to introduce the Jaywan-Visa co-badged debit and prepaid cards. This collaboration marks a significant step toward advancing the UAE’s financial infrastructure and accelerating the country’s transition to a digital economy.
Under this partnership, Al Etihad Payments and Visa will work closely with financial institutions, fintech companies, and merchant partners to issue the Jaywan-Visa cards. These cards, featuring both Jaywan and Visa logos, will provide customers with a secure and seamless payment experience both locally and internationally.
Domestically, transactions will be processed through UAESWITCH, the national card switch operated by Al Etihad Payments, while cross-border payments outside the GCC region will be handled via Visa’s global network, VisaNet. This dual-processing approach ensures efficiency, security, and cost-effectiveness for users.
Enhancing Financial Inclusion and Digital Transformation
Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services at CBUAE and Chairman of Al Etihad Payments, emphasized the significance of this initiative:
“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. This partnership with Visa creates a seamless, secure, and efficient card payment ecosystem that aligns with the UAE’s vision for innovation and financial empowerment.”
Visa’s Senior Vice President and Group Country Manager for the GCC, Dr. Saeeda Jaffar, echoed this sentiment, highlighting the opportunity to further expand digital payment adoption:
“With around 30% of payments still made in cash, we look forward to implementing this agreement and working with industry partners to extend the benefits of digital payments to more consumers and businesses. The UAE has been at the forefront of digital transformation, and this collaboration underscores Visa’s commitment to security, reliability, and innovation for Visa-Jaywan cardholders.”
Customer Benefits and Market Impact
The Jaywan-Visa cardholders will enjoy several benefits, including:
- Global Acceptance: Usable at 150 million Visa merchant locations across 200 countries.
- Seamless Domestic Transactions: Processed through UAESWITCH for cost-effective local payments.
- Enhanced Security: Backed by Visa’s fraud protection and risk management systems.
- Support for Digital Economy: Aiding the UAE’s push towards a cashless society.
This partnership is expected to accelerate financial inclusion, offering secure digital payment solutions to more businesses and consumers across the UAE. With the continued evolution of digital banking services, the Jaywan-Visa initiative represents a major step in the region’s financial modernization.
For official updates, visit the Dubai Government portal and Jaywan-Visa .
