Today's Edition
MUDHI ALOBTHANI (ABU DHABI)
The rollout of the UAE's national payment card, Jaywan, is being viewed by experts as more than the launch of a new financial product. They describe it as a strategic milestone that strengthens the country's financial sovereignty, accelerates the transition to a cashless economy, and lays the foundation for the next phase of fintech innovation.
As banks, financial institutions, and licensed exchange houses begin issuing Jaywan cards across the UAE, economists and researchers say the initiative reflects the country's long-term vision of building a resilient, nationally driven payments ecosystem while supporting sustainable economic growth.
Financial Sovereignty
Nora Ali, Team Lead and Emirati economist, described Jaywan as "the backbone of the UAE's national payment infrastructure," saying the initiative marks a significant step in strengthening the country's financial sector and advancing its digital economy ambitions.
"It provides a secure, efficient, and nationally driven payment ecosystem that reinforces confidence in digital transactions and supports sustainable economic growth," she said.
Ali noted that developing a homegrown payment network enhances the UAE's financial independence by giving the country greater control over its critical payment systems.
"As the backbone of the UAE's payment infrastructure, a homegrown network like Jaywan enhances financial sovereignty," she said.
"It also strengthens resilience by ensuring payment services remain secure, reliable, and aligned with the UAE's long-term strategic priorities."
Beyond national resilience, experts believe Jaywan could play a key role in expanding digital payment adoption and making financial services more accessible to individuals and businesses.
Ali said Jaywan creates "the backbone of a more inclusive digital payments ecosystem" by making electronic transactions more accessible, affordable, and convenient, supporting the UAE's ambitions to build a cashless economy while broadening financial inclusion through greater access to modern payment solutions.
Financial Resilience
Randa Alhammadi, Master's Researcher in Diplomacy and International Relations at the American University in the Emirates, echoed that view, describing Jaywan as a strategic milestone in the country's financial transformation.
"The launch of Jaywan strengthens the national payments infrastructure, supports digital transformation, and enhances the efficiency and security of financial transactions," she said. "
As the UAE continues to expand its digital economy, a nationally developed payment card reflects the country's commitment to innovation, financial sovereignty, and long-term economic competitiveness."
Alhammadi added that a UAE-developed payment network reduces reliance on external systems while improving operational resilience.
"It enhances financial resilience by providing greater control over domestic payment infrastructure, improving cybersecurity readiness, and supporting the country's ability to respond effectively to global financial disruptions while reinforcing trust in the national financial ecosystem," she said.
Driving Fintech Innovation
The experts also highlighted Jaywan's potential to strengthen the UAE's growing fintech sector.
Ali said the national payment network provides the foundational infrastructure needed to drive fintech innovation and advanced financial services.
"It strengthens the country's competitiveness by supporting a modern, sovereign payments framework that attracts investment and fosters innovation," she said.
Alhammadi said Jaywan aligns closely with the UAE's broader ambition of becoming a global hub for innovation and financial technology.
"By strengthening the local fintech ecosystem and encouraging the development of advanced financial technologies, it enhances the UAE's attractiveness for investment, supports digital innovation, and reinforces its position as a leading global financial and fintech hub," she said.
The benefits are also expected to extend to businesses, particularly small and medium-sized enterprises (SMEs), which form a key pillar of the UAE economy.
Ali said a locally driven payments ecosystem could help reduce transaction costs while improving efficiency and accessibility for businesses.
"This strengthens the wider UAE economy by creating opportunities for innovation, supporting local fintech development, and keeping greater value within the national financial system," she said.
Alhammadi added that Jaywan could improve payment efficiency, enhance customer experience, and create new opportunities for SMEs to participate more actively in the digital marketplace.
"Over time, a stronger domestic payment ecosystem can support economic diversification, stimulate innovation, and contribute to sustainable economic growth while increasing the competitiveness of UAE businesses," she said.
