Al Etihad Payments (AEP), a wholly owned subsidiary of the UAE central bank, and Mastercard announced a strategic collaboration to launch “Jaywan-Mastercard” co-badged debit and prepaid cards in the UAE.
Jaywan-Mastercard debit and prepaid cards will enable cardholders to carry out secure, simpler, smarter and more accessible payment transactions, including e-commerce transactions.
Jaywan cards transform payments
Al Etihad Payments operates the UAE’s national card switch (UAESWITCH) and manages the domestic card scheme ‘Jaywan’.
The partnership is expected to set a new benchmark in the UAE’s payment landscape by combining innovative products and value-added services.
In providing customers with access to such a wide range of domestic and international financial services through Mastercard and Al Etihad Payments’s respective networks, the collaboration will add unparalleled value and offer customers greater convenience, enhanced security and a more seamless payment experience.
Al Etihad Payments 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.
Saif Humaid Aldhaheri, the CBUAE’s Assistant Governor for Banking Operations and Support Services, Chairman of Al Etihad Payments, said the introduction of the Jaywan-Mastercard debit and prepaid cards is a significant step towards realising the company’s vision of a more inclusive and innovative financial landscape.
“This collaboration not only enhances the payment experience but also supports the UAE’s broader economic growth and digital transformation goals,” he said.
J.K. Khalil, Division President, East Arabia, Mastercard, said the company’s commitment to the UAE is embedded in its strategic engagements at federal and local levels.
“We are proud to collaborate with Al Etihad Payments to facilitate access to financial services and empower more people to reap the benefits of the digital economy,” he said.
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