Al Etihad Payments ties up with Mastercard to offer the co-branded cards in the UAE
Al Etihad Payments and Mastercard have announced a strategic collaboration to launch ‘Jaywan-Mastercard’ co-badged debit and prepaid cards in the UAE.
Al Etihad Payments, a wholly owned subsidiary of the Central Bank of the UAE (CBUAE), operates the UAE’s national card switch (UAESWITCH) and manages domestic card scheme Jaywan.
Jaywan-Mastercard debit and prepaid cards will enable cardholders to carry out secure, simpler, smarter and more accessible payment transactions, including e-commerce transactions, setting a new benchmark in the UAE’s payment landscape by combining innovative products and value-added services.
Wide range of services
In providing customers with access to such a wide range of domestic and international financial services through Mastercard and Al Etihad Payments’ respective networks, this new collaboration will add unparalleled value and offer customers greater convenience, enhanced security and a more seamless payment experience. AEP and Mastercard will work closely together in cooperation with all market players to deliver flexible solutions that meet the evolving needs of the UAE’s advanced payment ecosystem and boost user experience.
“We are pleased to announce our collaboration with Mastercard in our endeavor to pioneer the new generation of digital payments in the UAE. The introduction of the Jaywan-Mastercard debit and prepaid cards is a significant step towards realizing our vision of a more inclusive and innovative financial landscape. By leveraging advanced technology through such partnership, we aim to offer our citizens and residents more convenience, security, and access to a global network of financial services. This collaboration not only enhances the payment experience but also supports the UAE’s broader economic growth and digital transformation goals.” said H.E. Saif Humaid Aldhaheri, the CBUAE’s assistant governor for banking operations and support services, chairman of Al Etihad Payments.
“At Mastercard, we are committed to driving financial inclusion and providing digital solutions that help customers make seamless and secure transactions in the UAE and beyond. Our commitment to the UAE is embedded in our strategic engagements at federal and local levels. We are proud to collaborate with AEP to facilitate access to financial services and empower more people to reap the benefits of the digital economy,” said J.K. Khalil, division president, East Arabia, Mastercard.
What is the Jaywan card?
Jaywan is the UAE’s domestic card scheme that aims to provide payment experience and customized benefits that address local needs while enhancing the UAE’s payment infrastructure and global connection.
It plays a pivotal role in promoting financial inclusion, ensuring data sovereignty and supporting local businesses while simultaneously contributing to the advancement of the UAE’s payment landscape on a global scale.
Recently, Al Etihad Payments declared that the financial infrastructure for Jaywan is ready to be activated on both local and global levels.
Licensed financial institutions will provide two types of Jaywan cards to their customers based on individual requirements: a mono-badge card, which is exclusively Jaywan for local use and in Gulf Cooperation Council (GCC) countries, and a co-badge card created in collaboration with international payment schemes to enhance usability both locally and globally.
