Al Etihad Payments (AEP), a wholly-owned subsidiary of the Central Bank of the UAE (CBUAE), in its capacity as the owner and operator of the UAE’s national card switch and domestic card scheme “Jaywan”, has entered into a first-of-its-kind strategic partnership with Mastercard. The partnership includes the launch of the world’s first “Jaywan–Mastercard” co-badged credit card, the development of advanced infrastructure for the switching and processing of card payment transactions, and the establishment of a new operations centre in the UAE that will form part of Mastercard’s global network, providing ...