Al Etihad Payments and Visa partner to introduce ‘Jaywan-Visa’ cards
March 10, 2025
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Picture Courtesy: Visa | Cropped by GBN
Al Etihad Funds, a completely owned subsidiary of the Central Financial institution of the UAE (CBUAE), which operates the UAESWITCH and the UAE’s home card scheme ‘Jaywan’, and Visa have signed a strategic settlement to collectively launch ‘Jaywan- Visa’ debit and pay as you go playing cards within the UAE.
This co-badging partnership reinforces ongoing collaborations, supporting the UAE authorities’ ambition to drive digital financial system. Below the settlement, each entities will work carefully with native monetary establishments, fintech and service provider companions to difficulty to their prospects co-badged playing cards carrying a set of advantages and value-added companies that meet the market wants.
That includes each Jaywan and Visa logos on the playing cards, it permits prospects to pay securely within the UAE and at Visa’s greater than 150 million service provider companions throughout 200 nations and territories whereas touring overseas or procuring on-line.
Below this settlement, home transactions will probably be processed by means of the nationwide card swap, UAESWITCH, whereas cross border transactions exterior the GCC space will probably be processed by means of Visa’s international community ‘VisaNet’.
Dr. Saeeda Jaffar SVP & Nation Supervisor Visa GCC
“Visa’s partnership with Al Etihad Funds, a subsidiary of Central Financial institution of the UAE, underscores our help of the federal government’s imaginative and prescient to speed up digital transformation and set up the UAE as a pacesetter in innovation and financial development. With round 30 p.c of funds nonetheless made with money, we look ahead to implementing this settlement and persevering with our collaboration with trade companions to increase the advantages of digital funds to extra shoppers and companies, in addition to the broader UAE financial system.”
H.E Saif Humaid Al Dhaheri, the CBUAE’s Assistant Governor for Banking Operations and Help Companies, Chairman of Al Etihad Funds, commented that, “Jaywan is a key step towards strengthening the UAE’s monetary infrastructure, providing a regionally rooted cost resolution that helps financial development and digital transformation. Below this partnership between Al-Etihad Funds and Visa, we’re making a seamless, safe, and environment friendly card cost ecosystem that aligns with the UAE’s imaginative and prescient for innovation and monetary empowerment.”
This settlement reaffirms Visa’s dedication to offering the safety, reliability, and innovation to be loved by Visa-Jaywan cardholders and retailers within the UAE and globally. The UAE is about to drive additional development and growth by means of collaborative efforts throughout industries.
