Latest news with #UAESWITCH
Arabian Business
15-04-2025
- Business
- Arabian Business
Al Etihad Payments signs global co-badging deals for Jaywan cards with major payment giants
Al Etihad Payments (AEP), a subsidiary of the Central Bank of the UAE (CBUAE), announced the signing of strategic co-badging agreements with leading international card schemes, including Discover, Mastercard, UnionPay and Visa. The agreements are aimed at enhancing the usage of Jaywan, the UAE's domestic card scheme, by enabling international transactions while ensuring a strong and efficient domestic payment network. Strategic co-badging partnerships announced The tie-up with international card issuing companies will provide Jaywan cardholders the flexibility to transact worldwide, leveraging the reach of their payment networks. Within the UAE, Jaywan transactions will continue to be processed securely through UAESWITCH, maintaining a high standard of reliability and performance, Al Etihad Payments said. Saif Al Dhaheri, Chairman of Al Etihad Payments, said the company is leveraging advanced technology and strategic partnerships to create a secure and efficient payment ecosystem that aligns with the nation's vision for innovation and financial empowerment. Al Etihad Payments said Jaywan will introduce debit and prepaid co-badged cards for everyday transactions, salary disbursements, and secure cross-border payments. UAE financial institutions will begin issuing Jaywan co-badged cards from H2 of 2025, it said.
Yahoo
14-04-2025
- Business
- Yahoo
Al Etihad Payments enters co-badging agreements on card schemes
Al Etihad Payments, a subsidiary of the Central Bank of the UAE, has signed co-badging agreements with global card schemes, including Discover, Mastercard, UnionPay, and Visa. These partnerships aim to enhance Jaywan, the UAE's Domestic Card Scheme, by enabling international transactions while maintaining an efficient domestic payment network. The agreements will allow Jaywan cardholders to transact worldwide, tapping into the networks of these international payment providers. Within the UAE, transactions will continue to be processed through UAESWITCH. Jaywan will introduce debit and prepaid co-badged cards, which will be used for everyday transactions, salary disbursements, and cross-border payments. UAE financial institutions are expected to start issuing these co-badged cards from the second half of 2025. The co-badge cards will offer international acceptance, allowing cardholders to use their cards abroad for cross-border payments. The move is expected to enhance Jaywan's usability by extending its reach to international merchants, ATMs, and online payment platforms. Al Etihad Payments chairman Saif Al Dhaheri said: 'Jaywan is a key step toward strengthening the UAE's financial infrastructure, offering a locally rooted payment solution that supports economic growth and digital transformation." Last month, Al Etihad also entered agreement with UnionPay International to introduce co-badge cards in the UAE that feature the logos of both Jaywan and UnionPay. These cards will operate on Jaywan's domestic payment network for local transactions while providing access to UnionPay's global network, which spans over 180 countries and regions. "Al Etihad Payments enters co-badging agreements on card schemes " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Zawya
14-04-2025
- Business
- Zawya
Al Etihad Payments signs Jaywan co-badging agreements with international card schemes
UAE financial institutions will begin issuing Jaywan co-badged cards from H2 of 2025 Abu Dhabi – Al Etihad Payments (AEP), a subsidiary of the Central Bank of the UAE (CBUAE), has announced the signing of strategic co-badging agreements with leading international card schemes, including Discover®️, Mastercard, UnionPay and Visa. These agreements enhance Jaywan, the UAE's Domestic Card Scheme, by enabling international transactions while ensuring a strong and efficient domestic payment network. With these partnerships, Jaywan cardholders will have the flexibility to transact worldwide, leveraging the global reach of leading international payment networks. Within the UAE, transactions will continue to be processed securely through UAESWITCH, maintaining a high standard of reliability and performance. Saif Al Dhaheri, Chairman of Al Etihad Payments, said: 'Jaywan is a key step toward strengthening the UAE's financial infrastructure, offering a locally rooted payment solution that supports economic growth and digital transformation. We are leveraging advanced technology and strategic partnerships, and we are creating a secure, and efficient payment ecosystem that aligns with the nation's vision for innovation and financial empowerment.' Jaywan will introduce debit and prepaid co-badged cards for everyday transactions, salary disbursements, and secure cross-border payments. UAE financial institutions will begin issuing Jaywan co-badged cards from H2 of 2025. Jaywan co-badge cards will provide international acceptance, and cardholders can use their cards abroad, ensuring that travel and cross-border payments remain seamless. These partnerships enhance Jaywan's usability by extending its reach to international merchants, ATMs, and online payment platforms, allowing users to transact effortlessly both in the UAE and beyond. 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. For more information, please visit Al Etihad Payments website: Media Contact Jensen Matthews PR on behalf of Al Etihad Payments Loredana Matei loredana@
Al Etihad
13-03-2025
- Business
- Al Etihad
Al Etihad Payments, Mastercard collaborate to launch ‘Jaywan - Mastercard'
13 Mar 2025 17:53 ABU DHABI (WAM) 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 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 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 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 Humaid Aldhaheri, CBUAE's Assistant Governor for Banking Operations and Support Services, Chairman of Al Etihad Payments, said, '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 realising 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." Division President, East Arabia, Mastercard, J.K. Khalil, added, '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."
Arabian Business
13-03-2025
- Business
- Arabian Business
Al Etihad Payments, Mastercard launch Jaywan co-badged cebit and prepaid cards in UAE
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.
