Dubai 4 JUNE 2024:
Network International (Network), the leading enabler of digital commerce across the Middle East and Africa (MEA) region, will drive payments innovation in the UAE by being the amongst the first acquirers to activate ‘Jaywan’, the UAE’s Domestic Card Scheme, among its merchants in partnership with Al Etihad Payments, a subsidiary of the Central Bank of the UAE (CBUAE).
The Jaywan Domestic Card Scheme aims to advance the UAE national agenda, bring efficiency and promote digital payments by boosting card-based transactions across all segments of customers. Over time, Jaywan will expand international acceptance points and offer convenience for UAE residents in making card-based transactions abroad. Jaywan cards will be available for issuance to all customers of UAE’s licensed financial institutions, including banks, exchange houses and others.
As the leading acquirer in the region, Network will leverage its expertise and experience of over 30 years to launch the initiative to its merchants to drive payments innovation, digitisation, and global interoperability. Network International has over 60,000 merchants in the UAE spanning several sectors including high-end retail, hospitality, electronics, jewelry and hypermarkets among others, that stand to benefit from this new instant payment solution.
Nandan Mer, Group CEO of Network International, said, “The launch of the Jaywan scheme is a vital step to digitalising the UAE economy, and we are proud to drive this innovation through our extensive merchant network and expertise. It aligns with Network International’s ambitious strategy to be the leader of payment solutions in the region, by strengthening our commitment to innovation and excellence. The partnership with Al Etihad Payments, endorsed by CBUAE, underscores Network’s vision to empower businesses and merchants with the latest payment technologies.”
Jamal Al Nassai, Group Managing Director for Merchant Services – Middle East and North Africa at Network International, commented: “Network International’s global and local industry knowledge and large nexus of merchants combined with Al Etihad Payments infrastructure is poised for success in establishing a robust digital payments ecosystem in the UAE that will reduce dependence on cash transactions. We support the country on its path of innovation and growth bolstered by technology.”
Jan Pilbauer, CEO, Al Etihad Payments, said “Jaywan is designed to build an accessible and affordable payments network tailored to the specific needs and preferences of everyone in the UAE. Our partnership with Network International reflects our commitment to meeting the ever-evolving needs of merchants, delivering greater convenience and seamless transaction capabilities. This collaboration will enable customers to transact effortlessly across the UAE, enhancing the overall payments experience for everyone.”
