In a revolutionary development for the regional financial sector, Al Etihad Payments (AEP), a wholly-owned subsidiary of the Central Bank of the UAE (CBUAE), has forged a historic strategic partnership with Mastercard. This pioneering alliance, spearheaded by AEP in its capacity as the owner and operator of the UAE’s national card switch and domestic card scheme “Jaywan”, is designed to fundamentally transform the nation’s digital commerce landscape.
The centerpiece of this collaboration is the highly anticipated launch of the world’s very first “Jaywan–Mastercard” co-badged credit card. However, the scope of this partnership extends far beyond a single financial product. It encompasses the deployment of highly advanced infrastructure for switching and processing card payment transactions globally, ensuring that the domestic financial sector remains at the absolute cutting edge of innovation.
Building a Future-Ready Financial Hub
This announcement marks a truly transformative milestone in the rapidly evolving UAE payments ecosystem. By enabling the issuance of Jaywan co-badged credit cards, the CBUAE and AEP are ensuring that domestic financial products are universally accepted on a global scale.
Furthermore, this strategic alignment significantly strengthens the UAE’s position as a premier international financial hub. As part of the agreement, a brand-new operations centre will be established directly within the UAE. This facility will serve as a critical new node in the vast Mastercard global network, meticulously designed to process both domestic and international financial flows seamlessly. Consequently, the UAE will be among the earliest nations globally to benefit directly from Mastercard’s next-generation technology, advanced cybersecurity frameworks, and elite threat intelligence capabilities.
Driving Innovation and Economic Resilience
This monumental partnership directly supports AEP’s ongoing mission to bring together commercial banks, innovative fintechs, local merchants, and global technology partners to comprehensively modernise the UAE’s payment infrastructure. By officially utilizing Mastercard as the prime international scheme for the Jaywan credit card program, AEP ensures highly secure, remarkably simple, and widely accessible payment experiences for everyday consumers.
The launch of the ‘Jaywan-Mastercard’ credit card will provide banks, fintechs, and merchants with unparalleled additional functionality. This empowers them to better serve consumers, rapidly grow their localized businesses, and contribute meaningfully to the broader national economy. Together, AEP and Mastercard will drastically expand payment options across the market. This collaboration will support vital local innovation and greatly strengthen economic resilience, enabling financial institutions to serve their customer bases far more efficiently within an increasingly digitized global economy. Drawing on proven global experiences, the CBUAE highlights exactly how a holistic, locally anchored approach can simultaneously strengthen sovereign payment goals while fostering world-class innovation.
Leadership Perspectives on the Historic Alliance
The strategic magnitude of this joint venture has been widely celebrated by the executive leadership of both organizations. Highlighting the national importance of the initiative, Humaid Al Dhaheri, the CBUAE’s Assistant Governor for Banking Operations and Support Services, and Chairman of Al Etihad Payments (AEP), stated:
“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.”
Reflecting on the enduring legacy and future potential of their operations in the region, Dr. Dimitrios Dosis, President, EEMEA at Mastercard, added:
“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.”
As this dynamic partnership continues to evolve, AEP and Mastercard will collaboratively explore flexible, highly market-relevant solutions that support the UAE’s sweeping digital transformation. By enhancing consumer payment choices and deploying next-generation processing infrastructure, the CBUAE and its partners are successfully building one of the most secure, future-ready domestic payments ecosystems in the world.
