Mansour bin Zayed inaugurates “Gewan”, the first national payment card system in the country

His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President of the State, Deputy Prime Minister, Head of the Presidential Cabinet, and Chairman of the Board of Directors of the Central Bank of the United Arab Emirates, inaugurated the “Gewan” system, the first national payment system in the country, and His Highness announced the start of the official issuance of the card at the level of banks, financial institutions and licensed exchange companies, and its readiness for use by customers.

This came during his reception of His Highness Khaled Mohammed Balama, Governor of the UAE Central Bank, members of the Board of Directors of the Etihad Payments Company, and a number of CEOs of banks, financial institutions, and local and international payment companies, confirming the close partnership between the UAE Central Bank and the financial sector in supporting the national “GEON” payment system.

His Highness stressed that the inauguration of the first national payment system, “Geun,” and the start of its national issuance represent a strategic step that strengthens the UAE’s sovereignty over its financial infrastructure, and contributes to establishing an advanced national payments system that keeps pace with the country’s future aspirations and translates the vision of the wise leadership into financial leadership.

His Highness said that this achievement reflects the UAE’s commitment to continuing to build a more efficient, flexible and competitive financial sector that opens broader horizons for innovation, expands the base of financial inclusion, and confirms the country’s position as a leading global center for financial services. This step represents a pivotal step in strengthening the national payments system, raising the efficiency of the financial infrastructure, and supporting the digital transformation process in the country.

Licensed banks and financial institutions have begun issuing “Gewan” cards in stages, which will continue during the coming months.

Geion cards of all categories are accepted at point-of-sale devices, e-commerce platforms, ATMs, and digital wallets, supporting contactless payments, online purchases, and cash withdrawals, with the possibility of using them in local and international payment operations, in accordance with approved controls, and in a way that provides an integrated and secure payment experience for customers.

Geon cardholders also enjoy a comprehensive program of benefits and offers, in cooperation with a number of strategic partners, including the travel, shopping, hospitality, and lifestyle sectors.

For his part, Khaled Mohammed Al-Amaa, Governor of the Central Bank of the Emirates, said: “Based on the vision of the wise leadership and with the direct support and guidance of His Highness Sheikh Mansour bin Zayed Al Nahyan, the inauguration of “GEON” and the start of its national issuance represents a qualitative leap in the process of developing payment services in the country, and confirms the ability of the financial sector to transform strategic visions into advanced national solutions in line with the objectives of the “We are the Emirates 2031” vision, which enhances digital and innovative payments, and we will continue to work with our partners. To develop a more advanced financial system that supports economic growth and improves customer experience.”