In a strategic move to redefine the UAE’s payment ecosystem, Al Etihad Payments (AEP), a subsidiary of the Central Bank of the UAE (CBUAE), has partnered with Mastercard to launch “Jaywan-Mastercard” co-badged debit and prepaid cards.
This collaboration marks a significant milestone in advancing secure, seamless, and accessible payment solutions across the nation.
The newly introduced Jaywan-Mastercard cards will enable users to conduct secure digital transactions, including e-commerce payments, while benefiting from innovative financial products and value-added services. By integrating AEP’s domestic payment network with Mastercard’s extensive global reach, the initiative aims to enhance financial inclusion and provide a superior user experience.
Saif Humaid Aldhaheri, Assistant Governor for Banking Operations and Support Services at CBUAE and Chairman of AEP, emphasized the partnership’s role in driving digital transformation.
“This collaboration is a key step in fostering a more inclusive and innovative financial landscape, offering citizens and residents greater convenience and security while supporting the UAE’s broader economic growth objectives,”
he stated.
J.K. Khalil, Division President, East Arabia, Mastercard, reiterated the company’s commitment to financial inclusion and digital payment advancements.
“Our collaboration with AEP reinforces our dedication to empowering individuals and businesses with seamless, secure, and innovative payment solutions,”
he remarked.
AEP and Mastercard will continue working alongside industry stakeholders to introduce flexible payment solutions that align with the UAE’s evolving financial ecosystem. This initiative not only strengthens the country’s digital payment infrastructure but also aligns with its vision of becoming a global leader in financial innovation.
News Source: Emirates News Agency
