In a significant move towards bolstering the UAE’s digital payments ecosystem, Fime has been selected by Al Etihad Payments, a subsidiary of the Central Bank of the UAE, to play a pivotal role in establishing the UAE’s domestic card payment scheme, named Jaywan. This collaboration aims to enhance financial inclusion, sovereignty, and economic stability in the region by simplifying certification processes for scheme participants
Fime will establish a specialized testing lab and a bespoke cloud-based testing and certification platform, powered by the Fime Test Factory to achieve these objectives. This platform will enable issuers, acquirers, and vendors to navigate the certification process swiftly and efficiently. Fime’s experts will provide consulting support, on-demand technical assistance, and managed services to guide stakeholders through the certification journey.
Jan Pilbauer, CEO at Al Etihad Payments: “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”.
Lionel Grosclaude, CEO at Fime: “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”.
The partnership between Fime and Al Etihad Payments reflects a shared commitment to advancing the UAE’s digital payment landscape. By leveraging Fime’s expertise in consulting and certification services, the initiative seeks to enhance the security, efficiency, and accessibility of electronic payments, ultimately driving the nation towards a cashless future.