In order to increase the acceptance of Jaywan single-scheme cards worldwide via the UnionPay network, Etihad Payments, the owner and operator of the UAE’s National Payment Systems and the national Jaywan card scheme, has entered into a memorandum of understanding (MoU) with UnionPay International. Jaywan cardholders will be able to use their cards at 1.8 million abms and more than 100 million places of sale in more than 183 countries thanks to the deal. Saif Humaid Al Dhaheri, Chairman of Etihad Payments, and Dong Junfeng, Chairman of UnionPay China and UnionPay International, signed the Memorandum of Understanding at UnionPay International’s Shanghai offices.
As per the arrangement, UnionPay will use Jaywan cards to transport transactions performed outside of the UAE to Etihad Payments’ Electronic Payment System. To facilitate Jaywan’s global expansion, settlement, liquidity, and foreign currency services will be covered by a different Memorandum of Understanding. According to Al Dhaheri, the deal is a significant step in growing Jaywan internationally and enhancing the effectiveness of cross-border payments, promoting commerce, travel, and economic cooperation. He continued by saying that the collaboration will increase Jaywan cards’ accessibility abroad and bolster their standing in international payment networks.
According to Dong Junfeng, the strategic alliance between China and the UAE is still strengthening in response to the increasing need for smooth cross-border financial services for travel and commerce. He claimed that the agreement will improve the UAE’s domestic card program’s operational resilience and global competitiveness, building on a 2025 memorandum signed by the central banks of China and the UAE to improve cross-border payment cooperation. Additionally, it would strengthen bilateral commercial relations and increase the effectiveness of payment settlement utilizing local currencies.
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