Shanghai: Al Etihad Payments (AEP), the proprietor of the national switch and "Jaywan" domestic card scheme, has entered into a Memorandum of Understanding (MoU) with UnionPay International to enable worldwide acceptance of "Jaywan" mono-badged cards through UnionPay's extensive network.
According to Emirates News Agency, this collaboration will allow cardholders to utilize their "Jaywan" mono-badged cards at over 100 million points of sale and 1.8 million ATMs in more than 183 countries and regions. The MoU was signed in Shanghai at UnionPay International's headquarters, with Saif Humaid Al Dhaheri, Chairman of Al Etihad Payments, and Dong Junfeng, Chairman of China UnionPay and UnionPay International, in attendance.
As per the agreement, UnionPay will route "Jaywan" card transactions made outside the UAE to the UAE National Switch, which is operated by Al Etihad Payments. Settlement arrangements, including the provision of settlement, liquidity, and foreign exchange services, will be governed by a separate MoU, supporting the international expansion of the "Jaywan" scheme.
Al Dhaheri emphasized that this MoU marks a significant step in promoting the global expansion of the "Jaywan" scheme and enhancing cross-border payment efficiency. This initiative aims to facilitate trade, tourism, and economic cooperation, broadening the international use of "Jaywan" cards and bolstering its standing among global payment schemes.
Dong Junfeng remarked on the deepening strategic partnership between China and the UAE, which is fueling demand for seamless cross-border payment services in trade and tourism. He noted that these agreements would enhance the global competitiveness and operational resilience of the UAE's domestic payment brand, improve local currency settlement efficiency, and support bilateral trade ties.
This collaboration builds on the existing partnership between Al Etihad Payments and UnionPay, which includes the issuance of co-badged "Jaywan-UnionPay" cards by UAE financial institutions. Under this arrangement, domestic transactions are processed via the "Jaywan" scheme, while international transactions are handled through the UnionPay International network.