The agreement, signed at UnionPay International’s headquarters in Shanghai, will enable the launch of cards that combine the logos of both UnionPay and the UAE’s domestic payment network, Jaywan.
The co-badge cards will be linked to Jaywan's domestic payment network for local transactions, aiming to ensure smooth payment experiences within the UAE. At the same time, the partnership provides cardholders with access to UnionPay’s global network, facilitating transactions in over 180 countries and regions.
Officials from Al Etihad Payments noted that the collaboration is aligned with the UAE's goals of modernising its payment infrastructure. The co-badge cards are expected to support financial inclusion by offering a secure and efficient payment solution for both domestic and international transactions.
A representative from Al Etihad Payments stated that this collaboration with UnionPay International demonstrates their commitment to enhancing payment solutions in the UAE. By integrating both networks, the cards offer consumers seamless payment options within the UAE and beyond.
Officials from UnionPay International expressed their enthusiasm for the partnership, highlighting the role it will play in supporting the UAE's vision of a more inclusive payment ecosystem. They also mentioned that the partnership reflects the strengthening ties between China and the UAE, encouraging further economic and financial collaboration.
The cards are anticipated to support the UAE's financial market and payments infrastructure, with the first batch set to be issued soon across local financial institutions.
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