Jaywan, a new domestic payment card built on Indias digital RuPay credit and debit card stack has been launched in UAE

A new domestic payment card has been introduced In the UAE which is developed upon India's digital RuPay credit and debit card stack. Th payment card - Jaywan was unveiled on Tuesday by Indian Prime Minister Narendra Modi and President Sheikh Mohamed. The debut comes after the two nations signed a number of bilateral agreements on Tuesday, among them the connecting of rapid payment services.

The Indian version of a Visa or Mastercard is called a RuPay card. Praised as an extremely safe native system, it is extensively used throughout India, with an estimated 750 million cards in use.

India's Minister of Commerce and Industry, Piyush Goyal, highlighted last year how the connected domestic card system will lower currency risks and increase travel between the two nations while outlining the advantages of the cooperation. RuPay cards issued in India can be used in the Emirates, and cards issued in the UAE may be used in India. Additionally, local currencies will be used for all transactions.

The interconnection of the UAE's "Aani" payment system and India's UPI payment system is one of the other bilateral agreements that have been announced. This would enable smooth cross-border transactions between the two nations. With just the recipient's phone number, customers of Aani may send money right away thanks to a handy function.