Magnati announces acceptance of Jaywan card across its merchant network

  • Al Etihad Payment’s Jaywan card, can now be used to pay for transactions using Magnati payment terminals.
  • The ongoing collaboration between Magnati and Al Etihad Payments will contribute towards enhancing financial independence and inclusion in the UAE.
Magnati announces acceptance of Jaywan card across its merchant network

Abu Dhabi, UAE – 13 June 2024: Magnati, a leading payments solutions provider in the Middle East region, has partnered with Al Etihad Payments (AEP), a subsidiary of the Central Bank of the UAE, to enable acceptance of the newly launched Jaywan card on the payment terminals offered by Magnati to its merchants.

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. This initiative, fully supported by the Central Bank of the UAE, aims to enhance efficiency and financial inclusion, as well as national sovereignty and control over the nation’s card payment infrastructure. Jaywan cards will soon be issued to UAE residents by licensed banks and financial institutions.

This strategic alignment between Magnati and AEP represents another step forward in UAE’s digital payment landscape. By focusing on the acquiring and acceptance side ahead of card issuance, this partnership ensures that once the first Jaywan cards are issued, they will be immediately functional and recognized at Magnati terminals. Magnati is recognized for bringing innovative payment acceptance solutions to its more than 75,000 payment terminals used by many renowned businesses nationwide.

Ramana Kumar, Chief Executive Officer of Magnati, said: “At Magnati, we recognise the benefits that Jaywan Card will offer to customers and merchants. 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.”

Jan Pilbauer, Chief Executive Officer of Al Etihad Payments, said: “The mission of Jaywan is to create a robust, secure, and inclusive payments network that caters to the diverse needs of UAE residents and businesses. Our partnership with Magnati is a vital step towards achieving AEP’s overall goal of enhancing the national payment infrastructure and promoting financial inclusion. By enabling Jaywan acceptance on Magnati’s extensive network of payment terminals, we are ensuring that residents using Jaywan cards across the UAE benefit from convenience, fast transaction processing, and strong security.”

Magnati is among the first acquirers to enable the acceptance of Jaywan cards among merchants, marking a significant advancement in its payment capabilities. With the successful completion of the first live transaction, Magnati is setting the stage for seamless and efficient payment processing for all merchants and customers.

About Magnati

Magnati is a regional leader in the payment solutions industry focused on direct acquiring, issuer processing and acquiring processing.

Magnati provides government, merchant and institutional clients with an intelligent payments’ platform, using next generation technology to deliver improved experiences and increased efficiency. The Magnati brand is charged with energy and potential and is set to transform payments into possibilities.

Headquartered in Abu Dhabi, Magnati’s expertise and relationships provide a platform for Magnati to attract international partners, while setting a new standard for innovation and delivery in the payments industry.

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About Al Etihad Payments

Al Etihad Payments (AEP), as the national payments entity in the UAE, plays a crucial role in developing and operating the best in-class national payments infrastructure. Driven by a mission to support the government’s vision of a society less reliant on cash and national digitization, AEP strategically positions itself to provide innovative and interoperable payment solutions, enable financial institutions to enhance customer experience, and fortify a robust, efficient, and secure financial market infrastructure for the UAE.

For more information, please visit Al Etihad Payments website:

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