UAE: Jaywan expands reach with new co-badge cards after Mastercard, UnionPay deals
A subsidiary of the Central Bank of the UAE (CBUAE), AEP operates the UAE's national card switch (UAESWITCH) and also manages Jaywan, the domestic card scheme.
On Wednesday, AEP and Mastercard have signed a deal to launch 'Jaywan - Mastercard' co-badged debit and prepaid cards in the UAE for making payments, including e-commerce.
'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 Saif Humaid Aldhaheri, assistant governor for banking operations and support services of Central Bank and chairman of Al Etihad Payments.
JK Khalil, division president of East Arabia, Mastercard, said the aim is to provide digital solutions that help customers make seamless and secure transactions in the UAE and beyond.
Al Etihad Payments also signed an agreement with UnionPay International (UPI) to launch co-badge 'UnionPay – Jaywan' cards in the UAE.
Under this agreement, the co-badge cards will operate on Jaywan's domestic payment network within the UAE, ensuring seamless local transactions. Internationally, the cardholders will benefit from the extensive UnionPay network, enabling effortless transactions across more than 180 countries and regions.
'By integrating the Jaywan and UnionPay networks, we are offering a premium card solution that enables consumers to make seamless payment transactions within and beyond the UAE,' said Saif Aldhaheri.
'This co-badge agreement will enhance the convenience and security of payments for UAE residents, ensuring a seamless domestic and international payment experience,' said Larry Wang, CEO of UnionPay International.
The first batch of the co-badge cards will be issued in the near future with widespread availability across the UAE's financial institutions, it said.
As reported by Khaleej Times earlier, banks and other financial institutions will offer their customers a mono-badge card, i.e. Jaywan only, for local usage as well as in the Gulf Cooperation Council (GCC) countries while a co-badge card in partnership with international payment schemes such as Discover, Mastercard, Visa and UnionPay for payments in foreign countries.
Al Etihad Payments signed a deal with Visa player this week to introduce a co-badged card, allowing UAE customers to pay in the UAE and at more than 150 million merchant partners across 200 countries and territories when travelling abroad or shopping online.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hi Dubai
18 hours ago
- Hi Dubai
MOHRE and e& Money Launch Wage Protection Services for Domestic Workers
The Ministry of Human Resources and Emiratisation (MOHRE) has partnered with e& money to extend wage protection services to domestic workers, marking a significant step in enhancing financial inclusion and supporting the UAE's cashless economy goals. The agreement integrates MOHRE's Wage Protection System (WPS) into the e& money platform, enabling employers to pay domestic workers securely and in line with regulatory requirements. The move builds on the government's ongoing efforts to ensure timely salary payments and strengthen workers' rights. Dalal Alshehhi, Acting Assistant Undersecretary for Labour Protection at MOHRE, said the initiative expands the WPS framework to cover domestic workers for the first time, making regulated and secure salary payments more accessible. Employers can now complete transactions within a few simple steps through the e& money app. Through the partnership, domestic workers will benefit from digital wallets, IBAN accounts, and prepaid Mastercard cards, offering financial tools to a largely unbanked segment of the workforce. The platform also provides affordable international transfers, with e& money guaranteeing the best exchange rate, further supporting workers' financial needs. Melike Kara, CEO of e& money, highlighted the collaboration as a step towards financial empowerment, improving accessibility and inclusivity while streamlining salary management for both employers and workers. The initiative represents a shift from cash-based payments to secure digital solutions, ensuring better compliance, transparency, and convenience while advancing the UAE's digital economy agenda. News Source: Emirates News Agency
Fintech News ME
20 hours ago
- Fintech News ME
Worldpay and Mastercard Launch Push-to-Card Payouts in the UAE
Worldpay and Mastercard have announced a collaboration to enhance money movement for consumers and businesses in the UAE through Mastercard Move. The partnership will see Worldpay's Push-to-Card solution support faster domestic and cross-border payouts to cards, covering use cases such as gig economy payments, insurance claims, remittances, and withdrawals of crypto proceeds. These transactions are supported by Mastercard's security infrastructure. The service allows consumers to access funds more quickly, while businesses benefit from more efficient disbursement processes without needing to share bank account details. Worldpay's merchants will also be able to use their acquiring flows to fund payouts, reducing operational complexity and reliance on multiple providers. 'At Mastercard, we are committed to building a digital ecosystem by providing seamless payment options that cater to diverse customer bases and use cases. With Mastercard Move, we're delivering speed, security, and convenience to Worldpay's customers in the UAE,' said Mete Güney, Executive Vice President, Market Development, EEMEA, Mastercard. 'Worldpay plays a pivotal role in shaping the future of payments globally. As one of the first acquirers in the country to enable Mastercard Move, we're offering individuals and businesses a fast, secure, and convenient way to send and receive funds,' said Tausif Ahmed, Merchant Country Leader MEA, Worldpay. Worldpay has already introduced the Push-to-Card solution in the UK, EU, US, and Australia. Mastercard Move provides banks, non-bank financial institutions, and their customers with domestic and international money transfer solutions. The service reaches more than 200 countries in over 150 currencies, with access to more than 95 per cent of the world's banked population.
Khaleej Times
a day ago
- Khaleej Times
Iraqi fintech Qi Card, Turkish Airlines launch Mastercard debit card
Qi Card, Iraq's leading digital payments provider, and Turkish Airlines, one of the world's largest airlines, have signed a landmark partnership in Istanbul to launch a new co-branded Mastercard debit card for Iraqis. The partnership will benefit 11 million Qi Cardholders in Iraq by integrating their everyday spending with Turkish Airlines' Miles&Smiles rewards programme, enriching their travel experience. With 31 bank partnerships in more than 50 countries, the Miles&Smiles programme continues to be part of over 20 million members' lifestyles. Qi Card aims to give them access to its trusted payment network, backed by 17 years of innovation and service excellence. With the new debit card linked to the Qi Card payment system, Iraqi consumers will be able to earn Miles&Smiles rewards directly from their daily spending while enjoying a secure and convenient payment experience both across Iraq and at millions of merchants and ATMs worldwide. Benefits include point-to-mile conversion at a fixed rate, the ability to use miles across more than 353 destinations in 131 countries through Turkish Airlines and its Star Alliance partners, and privileged services such as access to business lounges, seat upgrades, fast-track services, and exclusive bonus mile offers. This strategic partnership combines Qi Card's deep understanding and expertise of the Iraqi market with Turkish Airlines' global aviation excellence, delivering an integrated solution that blends financial convenience with world-class travel benefits. 'This partnership reflects our shared vision of enriching everyday experiences through smarter financial tools and aspirational travel rewards," said Bahaa Abdul Hadi, chairman of International Smart Card (Qi Card). "We are excited to offer Iraqis a globally accepted, loyalty-driven product that rewards them for how they spend." The Miles&Smiles Qi Card Mastercard is designed to meet the lifestyle and travel choices of Iraqi consumers. The card is fully integrated with Qi Card's nationwide infrastructure and mobile platform and can be used globally wherever Mastercard is accepted. 'This co-branded card shows our commitment to the Iraqi market and strengthens our presence in the region by transforming everyday purchases into Miles&Smiles advantages that will pave the way for more memorable experiences for Iraqis,' said Ahmet Olmuştur, Chief Commercial Officer at Turkish Airlines. The card will be available soon through Qi Card's national distribution network, with onboarding and customer service support provided around the clock. Following its landmark partnership with Turkish Airlines, Qi Card anticipates strong interest from other airlines based in Iraq and the Middle East seeking similar collaborations to expand horizons and give a better experience for Qi cardholders.
