As Al Etihad Payments (AEP) enters into agreements with Mastercard and UnionPay, residents of the United Arab Emirates will have access to more co-badged Jaywan cards for both domestic and international payments.
Operating the UAE's national card switch (UAESWITCH) and overseeing the domestic card program, Jaywan, AEP is a subsidiary of the Central Bank of the United Arab Emirates (CBUAE).
AEP and Mastercard inked an agreement on Wednesday to introduce "Jaywan - Mastercard" co-branded debit and prepaid cards for use in e-commerce and other payment methods in the United Arab Emirates.
As per the agreement, the co-badge cards will function on Jaywan's domestic payment network in the United Arab Emirates, guaranteeing smooth local transactions. Globally, the cardholders will profit from the vast UnionPay network, which facilitates simple transactions in over 180 nations and territories.
According to the statement, the first batch of co-badge cards will be distributed soon and made widely available by financial institutions in the United Arab Emirates.
This week, Al Etihad Payments and Visa Player inked an agreement to launch a co-badged card that would enable UAE consumers to make payments both within the UAE and at over 150 million merchant partners in 200 countries and territories whether they go overseas or buy online.
