UAE’s Magnati has partnered with Al Etihad Payments, a unit of the Central Bank of the UAE (CBUAE), to accelerate the acceptance of the newly launched Jaywan card on the payment terminals offered by the payments firm to merchants.
“By enabling Jaywan acceptance on Magnati’s extensive network of payment terminals, we ensure that residents using Jaywan cards across the UAE benefit from convenience, fast transaction processing, and strong security,” said Jan Pilbauer, CEO of Al Etihad Payments.
Jaywan is the UAE’s new national card scheme, designed to provide a convenient, secure, and efficient payment solution tailored for the country’s residents. The initiative, fully supported by the CBUAE, seeks to enhance payment efficiency, financial inclusion and control over the nation’s card payment infrastructure.
Jaywan cards will soon be issued to UAE residents by licensed banks and financial institutions.
The strategic alignment between Magnati and Al Etihad represents another step forward in UAE’s digital payment landscape. By focusing on the acquiring and acceptance side ahead of card issuance, the partnership ensures that once the first Jaywan cards are issued, they will be immediately functional and recognised at Magnati terminals.
Magnati is recognised for bringing innovative payment acceptance solutions to its more than 75,000 payment terminals used by many renowned businesses nationwide.
“Together with Al Etihad Payments, we are delighted to extend flexibility and convenience, simplifying transactions while contributing to the national vision for a cashless and financially inclusive society,” said Ramana Kumar, CEO of Magnati.
Magnati is among the first acquirers to enable the acceptance of Jaywan cards among merchants, marking a significant advancement in its payment capabilities. Following the completion of the first live transaction, the payments firm is setting the stage for seamless and efficient payment processing for all merchants and customers.
