Al Etihad Payments (AEP), a subsidiary of the Central Bank of the UAE (CBUAE), has partnered with UnionPay International (UPI) to introduce the “UnionPay – Jaywan” co-badge card in the UAE. This collaboration marks a significant step in enhancing the country’s payment infrastructure.
During a signing ceremony in Shanghai, H.E. Saif Al Dhaheri, Assistant Governor for Banking Operations and Support Services at the CBUAE and Chairman of AEP, joined Larry Wang, CEO of UPI, to formalize the agreement.
Expanding Payment Accessibility and Convenience
The new co-badge cards will feature both the Jaywan and UnionPay logos. In the UAE, transactions will process through the Jaywan network, ensuring smooth domestic payments. Globally, cardholders can access UnionPay’s extensive network, spanning over 180 countries and regions.
H.E. Saif Humaid Al Dhaheri emphasized the partnership’s importance, stating, “By integrating the Jaywan and UnionPay networks, we are providing consumers with a seamless and efficient payment solution for both local and international transactions.”
Larry Wang, CEO of UnionPay International, added, “We are proud to collaborate with Al Etihad Payments in supporting the UAE’s vision for a modern and inclusive payment ecosystem. This co-badge initiative enhances convenience, security, and financial connectivity while reinforcing the strong economic ties between China and the UAE.”
Driving Financial Inclusion and Payment Modernization
This initiative aims to improve financial inclusion and offer a secure, efficient alternative for payments. Additionally, it aligns with the UAE’s broader strategy to modernize its financial infrastructure.
With UnionPay’s expanding presence in the Middle East and AEP’s leadership in national payment systems, this partnership strengthens the region’s financial connectivity. The first batch of co-badge cards will soon be available across UAE financial institutions.
