A partnership between the Federation for Payments and a visa to issue cards "Jeon – Visa"

Dubai, March 10/ WAM/ Al -Ittihad Payments Company, affiliated with the United Arab Emirates Bank, as the UASWITCH electronic operator, which is responsible for managing the local system of payment cards “Gene” and Visa “Visa”, today, announced a partnership to launch debit cards and advanced multi -system advance “VISA – Jaywan” in the UAE.
According to the press statement issued today, the two companies intend to cooperate with financial institutions, modern financial technology companies and local commercial partners to provide multi -system cards to customers that include a set of benefits and services with added value that meet the needs of the market.
The new cards will carry the “VISA – Jaywan” logos, allowing their holders to continue the safe payments within the country, in addition to more than 150 million “Visa” commercial partners in more than 200 countries and different region, whether during their presence abroad or on online shopping.
According to this partnership, local payment transactions will be processed through the UASWITCH electronic division, while the completed transactions will be processed outside the Gulf Cooperation Council states using the global “Visanet” network.
His Excellency Saif Hamid Al Dhaheri, Assistant Governor of the Emirates Central Bank for Banking and Support Services, Chairman of the Board of Directors of Al -Ittihad Payments Company, said that Gene is a basic step towards promoting financial infrastructure, supporting economic growth and digital transformation in the UAE, and within the framework of the partnership between the Union Payments Company and Visa Company, we are working to create a local system of smooth, safe and effective payment cards that are in line with the vision of the state For innovation and financial empowerment.
For her part, Dr. Saida Jaafar, the regional director of “VISA” and the vice president of its operations in the Gulf Cooperation Council countries, said that the partnership between the Union for Payments and a visa confirms our strong support for the UAE’s vision to accelerate the pace of the adoption of digital transformation and consolidate its pioneering position in terms of innovation and economic growth.

She added that, given that cash payments still represent about 30% of payment operations in the UAE, we are looking to implement this partnership and continue to cooperate with our partners to enhance the advantages of digital payments to include more customers, companies and economics in general.
She explained that the UAE is one of the leading countries in the field of digital transformation, and it has the ability and capabilities to achieve more progress, and this partnership confirms the commitment of Visa Company to provide the best safe, reliable and innovative payment services for multi -system card holders “Jaywan – Visa” and the business sector within the country and the world.

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