The Bank of Baroda (BoB) in the UAE has partnered with In-Solutions Global (ISG) to launch Jaywan Cards, a sovereign payment system aimed at strengthening the country’s payment infrastructure. The rollout of the cards is expected to begin within the next 30 days. Jaywan is a contactless payment system that supports multi-use functionality for both personal and business needs, and is built on a robust infrastructure aligned with the UAE’s Smart Payment Ecosystem.
The launch of Jaywan is a key milestone in the UAE’s efforts to localize its payments ecosystem, promote financial inclusion, and transition towards a cashless economy. The initiative is part of a broader regulatory alignment and strategic focus on Jaywan cards, and is expected to enhance the UAE’s sovereign payment infrastructure. With Jaywan, the UAE joins a growing number of nations investing in sovereign payment networks that prioritize cost efficiency, compliance, and local innovation.
The Jaywan card system is developed under the guidance of the Central Bank of the UAE (CBUAE) and is designed to provide a secure, efficient, and future-ready payment solution. ISG, which has a strong track record in the GCC, will manage the personalization and operational rollout of Jaywan Cards in partnership with Bank of Baroda. The company’s Senior Vice President, Praveen Balusu, stated that the initiative will empower regional banks to adopt a fully localized payment system and lay the groundwork for seamless cross-border transactions.
The launch of Jaywan comes at a time when digital payments in the UAE are booming, and is expected to have a significant impact on the country’s financial landscape. With its planned interoperability with RuPay, Jaywan is poised to become a game-changer for businesses and consumers alike, providing a seamless and efficient payment experience. Overall, the partnership between BoB and ISG is a significant step towards strengthening the UAE’s payment infrastructure and promoting a cashless economy.