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Revolutionising the UAE Payment Scheme
Network International — Leading the adoption of the Jaywan National Domestic Card Scheme, boosting financial inclusion and cost-efficiency for the UAE issuers and merchants
Network International (NI) has been operating in the digital payments space for over 30 years enabling FIs (banks, fintechs, digital banks and MNOs) and merchants to equip them with innovative payment methods and acceptance solutions. NI serves 250+ FIs and more than 120k merchants in 50+ countries across the Middle East and Africa. It is the most dominant payment processor in the region. Within the UAE, the company has 30+ clients that use its processing solutions including debit, credit, prepaid, commercial cards and acquiring processing in addition to being a direct acquirer serving 50k+ merchants in the UAE.
Navneet Dave, Managing Director and Co-Head of Outsourced Payment Services – Middle East - Network International
“In addition to the issuing and acquirer processing solutions, we provide value-added services such as advanced safety and security solutions, real-time fraud monitoring, biometric authentication and self-management of limits and channels by end customers. We keep abreast with the latest payment trends by continuously investing in innovative products and services such as Data Lake, Real-Time Data Streaming, Hyper -Personalised AI based loyalty solutions, RPA tool sets, Digital Wallets, Alternative Payment Methods, etc,” informs Navneet Dave, Managing Director and Co-Head of Outsourced Payment Services – Middle East - Network International.
Network International connects FIs and merchants through its state-of-the-art platform to local, regional switches, domestic and international schemes such as UAE Switch, GCC Net, Visa, Mastercard, Diners, JCB, Amex, etc. The newly introduced Jaywan domestic scheme in the UAE is a strategic initiative by Al Etihad Payments (a subsidiary of the UAE Central Bank) and NI is fully committed and engaged to drive the adoption of this domestic payment infrastructure.
Cropped shot of millennial man is paying with a credit card online while placing orders via mobile internet
Jaywan, which means “a precious pearl”, will ensure that the domestic payment infrastructure is well-aligned to serve the needs of the UAE. The rules, standards and infrastructure are all defined and hosted locally, thereby creating financial stability and independence from third-party providers. Al Etihad Payments collaborated with NPCI (National Payments Corporation of India) and leveraged their technology stack to launch Jaywan. Al Etihad Payments has direct control over Jaywan, thus, it will boost financial inclusion and cost-efficiency for the UAE issuers and merchants.
“Upon learning about the UAE’s initiative for a domestic national scheme, we immediately extended our full support, drawing from our expertise and technological capabilities as a direct merchant acquirer and issuer processor, to both the CBUAE and Al Etihad Payments. NI is committed to advancing the national agenda and is proud to be the pioneer in acquiring and processing Jaywan cards. We have also made significant investments in system certification to become the first processor in the UAE that empowers our clients to issue Jaywan cards,” Dave elaborates.
The Jaywan card is anticipated to achieve interoperability in the near future. Currently, it is positioning itself as an economical domestic debit card program. Jaywan cardholders can look forward to a range of advantages and perks, along with the assurance of safety and ease of use, all under the protection and security provided by the CBUAE.
According to Dave, Jaywan proves UAE’s economic maturity and its level of digital competitiveness. Enabling a significant reduction of costs, Jaywan will facilitate a greater penetration of digital transactions lowering barriers for the common persons thereby enhancing the digital economy of the country.
“Achieving certification for the roll-out of Jaywan has been super important to us. We are investing time and resources to make Jaywan successful. All our terminals accept Jaywan and we will continue to offer our value-added services to it, which will result in great offers to Jaywan cardholders through the banks,” promises Dave.
Banks and FIs are assured of advanced technology-based and innovative payment solutions thanks to the support of Network International, which is committed to creating a safe, secure, frictionless digital payment experience for all its partners in the UAE and MEA region.
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