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Fime to Support Set Up of UAE’s Domestic Card Scheme (Jaywan)
Fime has been selected by Al Etihad Payments, a subsidiary of the Central Bank of the UAE, to play a key role in the establishment of the UAE’s domestic card payment scheme, named Jaywan. To support the scheme’s goals of boosting financial inclusion, sovereignty and economic stability in the region, Fime will set up a framework to simplify certification for scheme participants.
To ensure the security, functionality and compliance of the payment scheme, Fime will establish a specialized testing lab and a bespoke cloud-based testing and certification platform, powered by the Fime Test Factory. To guide issuers, acquirers and vendors through the certification process quickly and easily, Fime’s experts will provide consulting support, on-demand technical assistance and managed services.
“The launch of the Jaywan scheme marks a significant stride towards our ambition of creating a robust digital payments ecosystem in the UAE and reducing dependence on cash transactions. Collaborating with Fime, renowned for its expertise in consulting and certification services, underscores our commitment to ensuring the safety, innovation, and convenience of electronic payments for all of the UAE,” comments Jan Pilbauer, CEO at Al Etihad Payments.
Lionel Grosclaude, CEO at Fime, adds: “Fime is proud to be facilitating the growth of digital transactions in the UAE in partnership with Al Etihad Payments. Our experts will support the country on its path to digitalization using an industry-leading combination of global payments knowledge and local insight.”
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