Ajman Bank is among the first banks in the UAE to successfully integrate Jaywan card acceptance across its ATM network, facilitating seamless cash withdrawals for Jaywan cardholders.

The Jaywan card, launched by Al Etihad Payments, a subsidiary of the Central Bank of the UAE, is designed to boost efficiency and sovereignty in the national payment landscape by promoting digital transactions in the local currency.

Mr. Mustafa Al Khalfawi, CEO of Ajman Bank said, “We are proud to be one of the first banks in the UAE to accept Jaywan cards on our ATMs. This initiative reflects our dedication to innovation and our commitment to contributing to the UAE’s domestic payments agenda. We are confident that this will enhance the payment experience for Jaywan cardholders while supporting the broader economic goals of the nation.”

Jan Pilbauer, CEO, Al Etihad Payments, said, “Jaywan has been launched in line with a vision to expand the national financial market infrastructure in the UAE.  Jaywan cards are designed to offer convenience for customers of UAE’s Licensed Financial Institutions, being progressively accepted across all payment channels – ATMs, Point of Sale, and eCommerce. Our partnership with Ajman Bank, along with other financial institutions in the UAE, marks a significant step towards enhancing convenience and accessibility for users throughout the UAE.”

Network International (Network) has announced the signing of a strategic partnership with Reem Finance, the leading financial services provider in the UAE. The strategic alliance aims to leverage Network’s expertise to provide a fully-fledged payment processing solution to support the digital transition.

The partnership with Network complements Reem Finance’s focus on offering customers with a unique banking experience in tune with the digital age. The scope of services includes a comprehensive range of products and services from transaction processing, card hosting and management, as well as value-added services. As the region’s largest payment solutions company, Network is committed to supporting the UAE financial services sector by providing innovative solutions to customers and enhancing the experience of consumers.

Navneet Dave, Managing Director & Co-Head of Processing – Middle East at Network International, commented, “We are thrilled to partner with Reem Finance as we jointly deliver innovative digital payment solutions that offer an effortless and secure experience for customers. Our collaboration builds on Network’s three decades of experience and expertise in creating world-class digital payments infrastructure and services for clients. It underscores Network’s commitment to empowering our partners with cutting-edge processing services and value-added solutions and driving growth in the UAE financial services industry.”

Mr. Seraj Faidi, CEO of Reem Finance,said: “As part of our ongoing commitment to enhancing the quality of our products and services for our esteemed clients, and in light of our recent collaborations with prominent service providers and partners, we are delighted to partner with Network International to explore innovative paths to accelerate digitizing our services to better serve our customers. This engagement is an important step for Reem Finance in expanding our capabilities to provide top tier, friendly and easy to use services to our customers. We are confident that with Network International, the processing of card transactions related to both consumer and commercial sectors will be state-of-the-art and seamless. We are committed to playing a vital role in elevating the financial system in the UAE, delivering value to our shareholders, and prioritizing the needs of our clients.”

Leading the charge in innovation, BKN301 Group’s advanced BaaS orchestrator payment gateway solution ‘301pay’ has been providing businesses of all sizes with unprecedented control over their payment processes, contributing to the ongoing growth of the MENA eCommerce market. The multi-merchant payment orchestrator platform allows businesses to effortlessly accept payments from customers worldwide through developer-friendly APIs, further streamlining global transactions and expanding market reach, while improving customer satisfaction.

The Middle East’s eCommerce market is projected to attain a valuation of USD 50 billion by 2025, due to the widespread adoption of cutting-edge technologies, growth of a young and tech-savvy population, and burgeoning disposable income levels in the region. Moreover, governments and organisations across the MENA region are key advocates of advanced digital transaction systems, driving the growth of the wider fintech infrastructure. 

As a leading digital payments and Banking-as-a-Service (BaaS) provider, BKN301 Group has designed the ‘301pay’ solution to revolutionise the eCommerce landscape.  The B2B solution allows eCommerce businesses to easily manage the payment acceptance process, ensuring security and compliance with regulations through its unique features such as one-click payment, multi-currency options, recurrent payment system, pay by link and QR payments, checking account, and customer collection disbursement services.

Stiven Muccioli, Founder and CEO of BKN301 said, “We are delighted by the success of our innovative online payment gateway 301pay, which aims to elevate the eCommerce retail experience, aligning with the broader national goals of digitisation. Cutting-edge payment systems are the cornerstone of eCommerce businesses worldwide, transforming how they operate and engage with customers. Bolstered by the success of 301pay, we remain committed to pioneering innovations in the regional fintech landscape, driving ubiquitous growth.”

Globally, the online payment gateway market is poised to cross USD 28.66 billion by 2029, growing at a CAGR of 16.95 per cent. Rising eCommerce sales, rapid internet penetration, and evolving online consumer and business demands, have all contributed to the growth of the online payment gateway market, paving way for the rise of simple online payment systems.

By synergising its robust capabilities, BKN301 is pioneering an enhanced business experience while elevating consumer satisfaction across the MENA region. The steadfast adoption of advanced technologies like Artificial Intelligence (AI) and Internet of Things (IoT) that aid in automating complex processes has positioned the group as a leader in the regional online payment landscape.