Jaywan-Mastercard Debit And Prepaid Cards To Be Launched Soon In The UAE

Al Etihad Payments (AEP), a subsidiary of the Central Bank of the UAE, has partnered with Mastercard to introduce co-branded debit and prepaid cards named "Jaywan-Mastercard" in the UAE. These cards aim to enhance payment experiences by offering secure and accessible transactions, including online purchases. This collaboration sets a new standard in the UAE's payment sector by merging innovative products with value-added services.

The Jaywan-Mastercard cards will provide users with extensive access to both domestic and international financial services through AEP and Mastercard's networks. This partnership promises greater convenience, improved security, and a seamless payment experience for customers. AEP and Mastercard are committed to working together with market players to deliver adaptable solutions that cater to the evolving needs of the UAE's advanced payment ecosystem.

Saif Humaid Aldhaheri, Assistant Governor for Banking Operations at CBUAE and Chairman of Al Etihad Payments, expressed enthusiasm about this collaboration. He stated, "We are pleased to announce our collaboration with Mastercard in our endeavor to pioneer the new generation of digital payments in the UAE. The introduction of the Jaywan-Mastercard debit and prepaid cards is a significant step towards realising our vision of a more inclusive and innovative financial landscape."

J.K. Khalil, Division President for East Arabia at Mastercard, highlighted their commitment to financial inclusion and digital solutions. He said, "At Mastercard, we are committed to driving financial inclusion and providing digital solutions that help customers make seamless and secure transactions in the UAE and beyond." This partnership aligns with Mastercard's strategic engagements at both federal and local levels within the UAE.

By leveraging advanced technology through this partnership, AEP aims to offer citizens enhanced convenience, security, and access to a global network of financial services. This initiative not only improves payment experiences but also supports broader economic growth and digital transformation goals in the UAE.

The collaboration between AEP and Mastercard represents a significant advancement in digital payments within the region. It underscores a shared vision for an inclusive financial landscape while empowering more people to benefit from the digital economy.

With inputs from WAM