Al Etihad Payments and Mastercard collaborate to launch 'Jaywan - Mastercard' debit and prepaid cards in the UAE
Abu Dhabi, UAE: Al Etihad Payments (AEP), a wholly owned subsidiary of the Central Bank of the UAE (CBUAE), which operates the UAE's national card switch (UAESWITCH) and manages domestic card scheme 'Jaywan', and Mastercard have 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, setting 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 AEP's 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.
About Al Etihad Payments
Al Etihad Payments (AEP), as the national payments entity in the UAE, plays a crucial role in developing and operating the best in-class national payments infrastructure. Driven by a mission to support the government's vision of a society less reliant on cash and national digitization, AEP strategically positions itself to provide innovative and interoperable payment solutions, enable financial institutions to enhance customer experience, and fortify a robust, efficient, and secure financial market infrastructure for the UAE.
About Mastercard
Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we're building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
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