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UAE banks begin rolling out infrastructure for Jaywan card cash withdrawal
The card will be rolled out in stages over the next two and a half years, replacing 10 million plus debit cards
UAE banks have begun rolling out the necessary infrastructure to accept Jaywan debit card and preparing their ATM network to enable cash withdrawals.
Currently, Ajman Bank is among the first banks in the UAE to successfully integrate Jaywan card acceptance across its ATM network, according to a press statement released by the bank.
Operated by Al Etihad Payments, a subsidiary of the Central Bank of the UAE, the soon-to-be-launched Jaywan card is being progressively integrated across all payment channels, including ATMs, point of sale, and e-commerce.
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The Shariah-compliant Ajman Bank announced on Tuesday that it ready to accept the card across its ATM network for cash withdrawals once launched.
In addition, Habib Bank AG Zurich has also indicated at its ATMs that the Jaywan debit card is accepted for cash withdrawals, along with other cards.
As reported by Khaleej Times earlier, the card will be rolled out in stages over the next two and a half years, replacing more than 10 million debit cards currently in circulation in the country. UAE residents will initially be able to use the card for cash withdrawals and payments locally, and later in the GCC and other foreign markets.
Mustafa Al Khalfawi, CEO of Ajman Bank, said the bank is ready to contribute to the UAE’s domestic payments agenda driven by the Domestic Card Scheme Jaywan. “We are confident that this will enhance the payment experience for Jaywan cardholders while supporting the broader economic goals of the nation,” he said.
“Our partnership with Ajman Bank, along with other financial institutions in the UAE, marks a significant step towards enhancing convenience and accessibility for users throughout the UAE,” said Jan Pilbauer, CEO of Al Etihad Payments.
The Jaywan card, to be launched by Al Etihad Payments, is the UAE Domestic Card Scheme dedicated to boosting efficiency and sovereignty in the national payment landscape by promoting digital transactions in the local currency.
Jan Pilbauer added, “Jaywan is designed to be a card for everyone, with its rollout occurring in phases, starting with the physical acceptance of the card. Currently, we are focusing on prioritizing acquirer acceptance to ensure the card can be widely used before distributing it to customers. Our goal is to enable customers to utilize their Jaywan cards across the entire payments ecosystem.”
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