Abu Dhabi: Al Etihad Payments (AEP), a wholly owned subsidiary of the Central Bank of the UAE (CBUAE), has entered into a strategic partnership with Mastercard that will see the launch of the world's first Jaywan-Mastercard co-badged credit card.The agreement also includes the development of advanced infrastructure for the switching and processing of card payment transactions, as well as the establishment of a new operations centre in the UAE that will form part of Mastercard's global network and provide advanced payment services to local and regional markets.The announcement marks a significant milestone in the UAE's payments landscape, enabling the issuance of Jaywan co-badged 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. The development will also position the UAE among the first countries to benefit from Mastercard's latest payment technologies and services.The collaboration supports Al Etihad Payments' efforts to bring together banks, fintech companies, merchants and global technology partners to modernise the UAE's payment infrastructure. It is expected to broaden payment options, support local innovation and strengthen the resilience of the country's financial ecosystem.The Jaywan-Mastercard credit card programme will provide secure, simple and accessible payment experiences while enabling banks, fintechs and merchants to offer enhanced services to consumers and businesses.As part of the agreement, Mastercard will deploy next-generation payment infrastructure in the UAE, supporting Jaywan debit, prepaid and credit co-badged cards. The platform will include advanced switching and processing capabilities, value-added services, cybersecurity solutions, fraud prevention tools and threat intelligence systems.Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services at the Central Bank of the UAE and Chairman of Al Etihad Payments, said: "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, said: "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."Al Etihad Payments and Mastercard said they will continue exploring market-focused solutions that support the UAE's digital transformation, enhance payment choice and further strengthen the country's domestic payments ecosystem.
