UAE launches Jaywan national payment card scheme to enhance financial infrastructure

On July 20, 2026, the UAE officially launched the Jaywan national payment card scheme, marking a significant milestone in the country's financial infrastructure. Inaugurated by Sheikh Mansour bin Zayed Al Nahyan, the scheme allows consumers to obtain various types of payment cards through local banks and financial institutions. The issuance of Jaywan cards began the following day, July 21, 2026, as banks and financial institutions started providing these cards to customers.

Jaywan is operated by Al Etihad Payments, a subsidiary of the Central Bank of the UAE. This initiative is designed to enhance the country's payment systems and promote financial inclusion, particularly for small and medium enterprises. With the ability to use Jaywan cards internationally through partnerships with global payment networks, the scheme is set to facilitate both local and cross-border transactions.

The introduction of Jaywan is a response to the growing need for a domestically managed payment network in the UAE. By reducing transaction costs and fostering financial inclusion, the scheme aims to support the digital transformation of the economy. The name "Jaywan," meaning "precious pearl" in Arabic, reflects the value this initiative brings to the financial landscape.

Key stakeholders include the Central Bank of the UAE, which oversees the operation of Jaywan through Al Etihad Payments, and various local banks that will issue the cards. The timing of this launch aligns with the UAE's broader goals of enhancing economic efficiency and promoting a more inclusive financial environment. As the scheme gains traction, it is expected to play a crucial role in modernizing payment systems across the nation.

As Jaywan cards are adopted by consumers and businesses, the impact on transaction fees and financial inclusion will be closely monitored. The scheme is anticipated to significantly influence the UAE's payment ecosystem, potentially leading to lower costs for users. The success of Jaywan will depend on its acceptance and integration into everyday financial transactions.

Looking ahead, stakeholders should keep an eye on the adoption rates of Jaywan cards and their effects on the broader economy. The initiative's success could pave the way for further innovations in the UAE's financial sector, enhancing the overall economic landscape.