Jaywan: What Accountants Need to Know About the UAE’s Domestic Card Scheme

As the UAE continues advancing toward a cashless economy, a significant development in the financial infrastructure is the launch of Jaywan — the country’s first national payment card scheme. Developed by Al Etihad Payments under the supervision of the Central Bank of the UAE, Jaywan marks a strategic shift in how domestic payments will be processed, settled, and analyzed. For accountants and finance professionals, understanding the implications of Jaywan is no longer optional — it’s essential.

At its core, Jaywan is designed to offer an efficient, secure, and locally governed alternative to international card networks for transactions within the UAE. Built on the RuPay technology stack (India’s homegrown card network), Jaywan is tailored to support retail payments, ATM withdrawals, and e-commerce within the UAE ecosystem. But its significance runs deeper than just payment processing.

From a cost-efficiency standpoint, Jaywan may reduce interchange and processing fees, especially for SMEs and local merchants. With fewer fees routed through foreign networks, businesses could benefit from marginal gains — and accountants should be advising clients on how to capture and account for those savings in their financial models.

Another layer worth noting is data localization. With transactions processed within UAE borders, the availability of payment data for audit, analytics, and compliance improves drastically. This has implications for both internal control functions and regulatory reporting, particularly under VAT and AML frameworks. For finance teams seeking to streamline reconciliations or analyze consumer spending, Jaywan provides an unprecedented level of domestic visibility.

There’s also a strategic dimension. The introduction of Jaywan fits into broader national goals like enhancing financial sovereignty and reducing dependency on international systems. Accountants involved in strategic planning, particularly in fintech, payments, or government-related sectors, should be closely watching how Jaywan integrates with POS systems, ERP software, and banking APIs.

While Jaywan will initially complement — not replace — international cards like Visa or Mastercard, its long-term role could reshape how domestic transactions are prioritized and priced. For accountants, this means adjusting forecasting models, updating payment policies, and potentially re-evaluating vendor contracts that rely on foreign networks.

In summary, Jaywan isn’t just a new card. It’s a new layer of financial infrastructure. As it scales, accountants and finance professionals must prepare their clients and organizations to adapt — and, where possible, capitalize on its efficiencies.