2026-08-12
The UAE’s national payment card Jaywan is going global. On August 11, 2026, Al Etihad Payments, the Central Bank of the UAE subsidiary that operates the country’s national payment infrastructure, signed a memorandum of understanding with UnionPay International in Shanghai. The agreement will allow mono-badged Jaywan cards, cards carrying only the UAE’s domestic scheme, to be used at more than 100 million points of sale and 1.8 million ATMs across more than 183 countries and regions through UnionPay’s global acceptance network. A second memorandum signed at the same ceremony covers settlement, liquidity and foreign exchange services supporting the expansion.
What exactly was signed
The signing took place at UnionPay International’s headquarters in Shanghai. Saif Humaid Al Dhaheri, Chairman of the Board of Al Etihad Payments, signed for the UAE side; Dong Junfeng, Chairman of China UnionPay and UnionPay International, signed for the Chinese payment scheme. The package consists of two documents:
- the main memorandum of understanding extends international acceptance of Jaywan cards through UnionPay’s network, so that a card issued under the UAE’s domestic scheme works abroad without needing a Visa or Mastercard badge;
- a second memorandum establishes the settlement framework: clearing arrangements, liquidity support and foreign exchange services, including more efficient settlement in local currencies.
Technically, the model routes every Jaywan transaction made outside the UAE through UnionPay’s network and back to the UAE National Switch, the central processing platform operated by Al Etihad Payments. Domestic transactions stay entirely inside the UAE’s own infrastructure.
Jaywan’s new global footprint in numbers
| Metric | Coverage under the UnionPay agreement |
|---|---|
| Countries and regions | More than 183 |
| Points of sale | More than 100 million |
| ATMs | 1.8 million |
| Signing date and venue | August 11, 2026, Shanghai |
What Jaywan is and why the UAE built it
Jaywan is the UAE’s first domestic card scheme, launched in 2024 by Al Etihad Payments, a subsidiary of the Central Bank of the UAE. Its purpose is payment sovereignty: card transactions between UAE consumers, merchants and banks are processed inside the country on national infrastructure, rather than routed through international networks, which lowers processing costs for local payments and keeps transaction data onshore. UAE banks have been rolling out Jaywan debit cards to customers since the launch, often replacing legacy domestic products.
Until now the scheme’s main limitation was geography. A domestic card is, by definition, domestic: to work abroad it needed a co-badge partnership, and Jaywan cards have been issued in a co-badged format with UnionPay for international use. The new agreement goes a step further, taking mono-badged Jaywan cards, those carrying only the national scheme, into UnionPay’s acceptance network of more than 183 countries and regions. The existing co-badge model continues in parallel: inside the UAE payments run through Jaywan, outside they run through UnionPay.
Why this matters beyond banking
National payment schemes are a marker of financial system maturity. India built RuPay, Brazil built Elo, Saudi Arabia built mada; each eventually pushed for international acceptance through partnerships with global networks. The UAE has now compressed that cycle into roughly two years from launch to a global acceptance deal, which says a lot about how quickly the country’s financial infrastructure programme is executing.
The choice of partner is also strategic. China is one of the UAE’s largest trading partners, and UnionPay’s network is the widest in Asia. The settlement memorandum specifically covers more efficient settlement in local currencies, which fits a broader trend in UAE-China economic relations: growing trade, more direct financial connectivity and less dependence on third-party corridors. For UAE residents who travel, the practical effect is simpler: a domestic Jaywan card that previously worked only at home will work at terminals and ATMs across most of the world.
The deal also lands in a busy season for UAE payment regulation. The country is simultaneously rolling out mandatory e-invoicing for mainland and free zone companies, expanding instant payments through Aani and licensing new categories of payment providers. The direction is consistent: a fully domestic, digitised payment stack with international reach.
What the Jaywan expansion means for business
For companies operating in or entering the UAE market, the agreement has several practical implications:
- merchants in the UAE gain nothing to install: Jaywan acceptance is already part of the domestic acquiring stack, and the international expansion works in the other direction, taking UAE-issued cards abroad;
- for companies whose staff hold UAE bank accounts, corporate and payroll cards issued under Jaywan become usable on business trips across 183 countries, reducing the need for parallel international cards;
- banks and fintechs in the UAE get a stronger domestic product to build on, and payment companies planning UAE market entry should factor Jaywan support into their product roadmap alongside Visa and Mastercard;
- settlement in local currencies between the UAE and UnionPay markets can reduce FX friction for businesses with China-facing trade flows;
- to issue, acquire or process payments in the UAE a company needs a local licence and regulatory approvals, and the first step is setting up a company in the UAE with the right activity codes;
- any operating company will also need a corporate account at a local bank, and bank account opening in the UAE remains the stage where preparation makes the biggest difference to timelines.
How Atlant Capital can help
Atlant Capital advises companies entering the UAE, including fintech and payment businesses navigating the country’s regulatory landscape. We help select the right jurisdiction and licence, register the company, obtain residence visas, open corporate bank accounts and set up accounting, VAT and corporate tax compliance. If your plans touch the UAE’s fast-moving payments market, from merchant services to cross-border trade with Asia, we can structure the entry correctly from day one.
The bottom line
With the UnionPay agreement signed on August 11, 2026, the UAE’s Jaywan card scheme moves from a domestic product to a globally accepted one: more than 183 countries, over 100 million points of sale and 1.8 million ATMs. For the UAE this is a milestone of financial infrastructure sovereignty; for businesses and residents it means national cards that work worldwide and cheaper, more direct settlement rails between the UAE and its largest Asian trading partners.
FAQ
What is the Jaywan card and who operates it?
Jaywan is the UAE’s first domestic payment card scheme, launched in 2024 by Al Etihad Payments, a subsidiary of the Central Bank of the UAE. Domestic card transactions are processed inside the country through the UAE National Switch, which lowers costs and keeps payment data onshore. UAE banks issue Jaywan cards as standard debit products.
Where will Jaywan cards work after the UnionPay agreement?
Under the memorandum signed on August 11, 2026, mono-badged Jaywan cards will be accepted at more than 100 million points of sale and 1.8 million ATMs across more than 183 countries and regions, using UnionPay International’s global acceptance network. Transactions made outside the UAE are routed by UnionPay back to the UAE National Switch.
Who signed the Jaywan-UnionPay agreement and where?
The memorandums were signed at UnionPay International’s headquarters in Shanghai by Saif Humaid Al Dhaheri, Chairman of Al Etihad Payments, and Dong Junfeng, Chairman of China UnionPay and UnionPay International. A second memorandum covers settlement, liquidity and foreign exchange services, including settlement in local currencies.
What does the Jaywan expansion mean for businesses in the UAE?
UAE-issued Jaywan corporate and payroll cards become usable in 183 countries, reducing dependence on international card schemes. Fintech and payment companies should add Jaywan support to their UAE product plans, and businesses trading with China may benefit from local-currency settlement. Operating in the UAE payments market requires a licensed local company and a corporate bank account.
