(Credit - WAM)
UAE Gets World's First Jaywan-Mastercard Credit Card
In Abu Dhabi, a significant development is taking place in the payments environment with the launch of the world’s first Jaywan-Mastercard co-badged credit card by Al Etihad Payments, a subsidiary of the Central Bank of the UAE (CBUAE), in partnership with Mastercard. This innovative collaboration aims to expand the global acceptance of Jaywan cards and establish a new Mastercard operations centre in the UAE, which will form part of Mastercard’s global network and provide advanced payment services to local and regional markets.
The introduction of the Jaywan-Mastercard co-badged credit card is expected to have a profound impact on the UAE’s financial ecosystem, enabling the issuance of credit cards with global acceptance while strengthening the country’s position as an international financial hub. Under the partnership, a new Mastercard network node will be established in the UAE to process both domestic and international payment flows, positioning the UAE among the first countries to benefit from Mastercard’s latest payment technologies and services.
The development of advanced infrastructure for the switching and processing of card payment transactions will also be a key aspect of the partnership, supporting Jaywan debit, prepaid, and credit co-badged cards. This will include advanced switching and processing capabilities, value-added services, cybersecurity solutions, fraud prevention tools, and threat intelligence systems, ultimately providing secure, simple, and accessible payment experiences for consumers and businesses.
The collaboration between Al Etihad Payments and Mastercard is a significant milestone in the UAE’s payments environment, marking a new era in the country’s financial ecosystem. As Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services at the Central Bank of the UAE and Chairman of Al Etihad Payments, noted, “This collaboration represents a defining moment for the UAE’s payments ecosystem. By combining national infrastructure with global innovation, we are strengthening sovereignty, resilience, and choice, while accelerating the UAE’s journey toward a future-ready financial system.”
Dr Dimitrios Dosis, President, Eastern Europe, Middle East and Africa (EEMEA) at Mastercard, also emphasized the significance of the partnership, stating, “As Mastercard celebrates forty years in the UAE, this latest milestone with Al Etihad Payments reflects how together we can strengthen the foundation for continued growth in trade, tourism, and commerce. We are bringing together trusted technology, global scale, and deep local relationships to strengthen domestic resiliency while remaining deeply connected to the global economy.”
The introduction of the Jaywan-Mastercard co-badged credit card reflects the UAE’s commitment to innovation and its determination to establish itself as a leading financial hub. As the country continues to evolve and grow, the partnership between Al Etihad Payments and Mastercard is poised to play a significant role in shaping the future of the UAE’s payments environment.
The UAE’s strategic location and business-friendly environment make it an ideal location for companies like Mastercard to establish operations and expand their reach in the region. The establishment of a new Mastercard operations centre in the UAE will not only provide advanced payment services to local and regional markets but also create new opportunities for businesses and individuals alike.
In conclusion, the launch of the Jaywan-Mastercard co-badged credit card is a significant development in the UAE’s payments environment, marking a new era in the country’s financial ecosystem. The partnership between Al Etihad Payments and Mastercard reflects the UAE’s commitment to innovation and its determination to establish itself as a leading financial hub.
