Fime to support set up of UAE’s domestic card scheme

Fime has been selected by UAE Central Bank subsidiary Al-Etihad Payments to support the set-up of the UAE domestic card scheme, Jaywan.

The scheme aims to boost financial inclusion, sovereignty and economic stability in the region. To support this, Fime will set up a framework to simplify certification for scheme participants.

“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,” said Jan Pilbauer, CEO at Al Etihad Payments.

The company enables its clients to create and launch trusted and secure solutions with consulting and testing services in payments, smart mobility, biometrics, authentication and open banking. It offers a global cross-industry perspective, local insight, and a unique heritage in testing and certification.

To ensure the security, functionality and compliance of the payment scheme, Fime will establish a specialized testing lab and a 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.

Lionel Grosclaude, CEO at Fime, said, “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.”