The Jaywan Card, a groundbreaking initiative, has been launched in the UAE through a strategic partnership between Bank of Baroda UAE and In-Solutions Global (ISG). Announced on May 21, 2025, at the Seamless Middle East 2025 Expo, this innovative card aims to transform the UAE’s payment landscape by offering a secure, efficient, and locally driven alternative to international card networks. This move aligns with the UAE’s vision to build a robust, sovereign payment infrastructure that supports its growing cashless economy.
The Jaywan Card, developed under the guidance of Al Etihad Payments, a subsidiary of the Central Bank of the UAE, is designed to enhance financial inclusion, reduce transaction costs, and promote local innovation. Let’s dive into what makes this launch significant, how it benefits consumers and businesses, and its potential to reshape the UAE’s financial ecosystem.
What Is the Jaywan Card?
The Jaywan Card is the UAE’s first domestic card payment scheme, created to provide a homegrown solution for both debit and prepaid transactions. Unlike international card networks like Visa or Mastercard, Jaywan is tailored to meet the UAE’s unique economic and consumer needs. It operates under strict security and regulatory standards, ensuring safe and reliable transactions across various sectors, including retail, hospitality, and e-commerce.
This card is not just a payment tool; it’s a step toward financial sovereignty. By keeping more financial value within the UAE, Jaywan reduces reliance on foreign payment systems and supports the nation’s economic ambitions. Its interoperability with global networks like RuPay also ensures seamless cross-border transactions, making it a versatile option for UAE residents and travelers alike.
Key Features of the Jaywan Card
- Wide Acceptance: Accepted at ATMs, merchant terminals, and e-commerce platforms across the UAE.
- Cost Efficiency: Lower transaction fees compared to international card networks.
- Digital Integration: Compatible with digital wallets for smooth, modern payments.
- Security: Adheres to the highest regulatory standards for safe transactions.
- Cross-Border Use: Co-badging with networks like Visa, Mastercard, and RuPay for international usability.
Why the Jaywan Card Matters for UAE’s Economy
The launch of the Jaywan Card is a milestone in the UAE’s journey toward a cashless society. The UAE has been a leader in adopting digital payment solutions, and this card strengthens that position by offering a locally controlled system. According to industry experts, Jaywan’s introduction will reduce transaction costs for merchants and consumers, making payments more affordable and accessible.
Philip Glickman, Managing Director – International at ISG, emphasized, “This partnership underscores ISG’s commitment to helping build a resilient and self-reliant payments infrastructure in the UAE.” By enabling banks and financial institutions to adopt a fully localized payment system, Jaywan ensures that the UAE retains greater control over its financial transactions.
Boosting Financial Inclusion
One of Jaywan’s core goals is to enhance financial inclusion. By offering prepaid card options, it allows unbanked or underbanked individuals to participate in the digital economy. For example, platforms like Botim, in collaboration with Mbank, have already integrated Jaywan, enabling users to apply for and activate prepaid cards directly through the app without needing a traditional bank account. This accessibility broadens the reach of secure digital payments to a wider audience.
Supporting Local Businesses
Merchants benefit significantly from Jaywan’s lower transaction fees and improved controls. With over 90% of point-of-sale terminals in the UAE expected to accept Jaywan cards by August 2025, businesses in retail, hospitality, and e-commerce can expect smoother operations and reduced costs. This is particularly crucial for small and medium enterprises (SMEs) that rely on cost-effective payment solutions to stay competitive.
The Role of Bank of Baroda UAE and ISG
Bank of Baroda UAE and ISG bring complementary strengths to this partnership. BoB UAE, a trusted name in the region, has a strong presence in the Gulf Cooperation Council (GCC) and a deep understanding of local financial needs. ISG, a leader in fintech solutions, specializes in settlement, reconciliation, and card issuance services. Together, they ensure the seamless rollout and operational success of the Jaywan Card.
Bank of Baroda’s Contribution
Bank of Baroda UAE has been a key player in the GCC’s banking sector, offering innovative financial solutions. Its expertise in the region makes it an ideal partner for launching Jaywan. BoB UAE representatives have highlighted that the card supports both personal and business transactions, aligning with the UAE’s Smart Payment Ecosystem. This partnership reinforces BoB’s commitment to driving financial innovation in the UAE.
ISG’s Fintech Expertise
In-Solutions Global (ISG) is at the forefront of fintech innovation, with a proven track record in the UAE and Saudi Arabia. ISG manages the personalization and operational aspects of Jaywan Cards, ensuring high acceptance rates and a smooth user experience. Praveen Balusu, SVP – Product and Delivery at ISG, noted, “By enabling end-to-end Jaywan card issuance, we are helping regional banks adopt a fully localized payment system that is both efficient and scalable.”
How Jaywan Card Fits into UAE’s Cashless Vision
The UAE has been pushing for a cashless economy, with initiatives like the UAE Vision 2021 and the Dubai Cashless Strategy. The Jaywan Card aligns perfectly with these goals by offering a secure, efficient, and locally driven payment solution. Its ability to integrate with digital wallets and support both domestic and international transactions makes it a versatile tool for modern consumers.
A Step Toward Financial Sovereignty
Unlike international card schemes, Jaywan is built for the UAE, by the UAE. This reduces dependence on external systems, which often come with higher fees and less flexibility. By processing transactions locally, Jaywan ensures that more financial value stays within the UAE, supporting economic growth and resilience.
Future Plans: Credit Card Option
Excitingly, Jaywan is set to expand beyond debit and prepaid cards. Plans for a Jaywan credit card are already in motion, promising even more flexibility for consumers. This move will further solidify Jaywan’s position as a comprehensive payment solution, catering to a wide range of financial needs.
Benefits for Consumers and Businesses
The Jaywan Card offers tangible benefits for both individuals and businesses, making it a game-changer in the UAE’s payment landscape.
For Consumers
- Convenience: Use the card at ATMs, retail stores, and online platforms.
- Affordability: Lower fees mean more savings on transactions.
- Global Access: Co-badging with global networks ensures usability abroad.
- Digital-Friendly: Easily load the card onto digital wallets for quick payments.
For Businesses
- Cost Savings: Reduced transaction fees compared to international networks.
- Wider Reach: High acceptance rates across various merchant categories.
- Streamlined Operations: Improved transaction controls and reporting in a digitized environment.
- Support for SMEs: Affordable payment solutions empower small businesses to compete.
Challenges and Opportunities
While the Jaywan Card holds immense potential, its success depends on widespread adoption and infrastructure readiness. Ensuring that merchants, ATMs, and e-commerce platforms are fully equipped to accept Jaywan is critical. However, with over 90% of point-of-sale terminals expected to be Jaywan-ready by August 2025, the groundwork is already in place.
Another opportunity lies in expanding Jaywan’s interoperability. The card’s co-badging with global networks like Visa, Mastercard, and RuPay is a significant step, but further partnerships could enhance its global reach. Additionally, the planned credit card option could attract a broader user base, including those seeking more flexible payment solutions.
What’s Next for Jaywan Card?
The launch of the Jaywan Card is just the beginning. With plans to introduce a credit card option and expand merchant acceptance, Jaywan is poised to become a cornerstone of the UAE’s payment ecosystem. Its focus on cost efficiency, security, and local innovation positions it as a key player in the nation’s digital transformation.
As the UAE continues its journey toward a cashless economy, initiatives like Jaywan will play a pivotal role. By empowering consumers, supporting businesses, and strengthening financial sovereignty, the Jaywan Card is more than just a payment tool—it’s a symbol of the UAE’s ambition to lead in global fintech innovation.
Conclusion
The partnership between Bank of Baroda UAE and ISG to launch the Jaywan Card marks a significant step toward a more inclusive, efficient, and locally driven payment system. With its focus on security, affordability, and accessibility, Jaywan is set to transform how UAE residents and businesses handle transactions. As it gains traction, this card could redefine the future of payments in the UAE, making it a model for other nations aiming to build sovereign financial infrastructures.
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