UnionPay International Signs Strategic MoUs with the Central Bank of the UAE, Al Etihad Payments and Bank of China Abu Dhabi Branch to Enhance Cross-Border Payment Interoperability

SHANGHAI, July 21, 2026 /PRNewswire/ -- UnionPay International has signed three Memorandums of Understanding (MoUs) on cooperation in payment landscape with the Central Bank of the United Arab Emirates (CBUAE), Al Etihad Payments (AEP), and Bank of China Abu Dhabi Branch during a high-level ceremony held in Shanghai, China, marking a significant milestone in cross-border payment interoperability and financial sector connectivity between China and the UAE.

Dong Junfeng, Chairman of China UnionPay and UnionPay International (UPI) signed the first memorandum of understanding with H.E. Saif Humaid Al Dhaheri, Assistant Governor of Banking Operations and Support Services of the CBUAE formalizing the joint cooperation between UPI and CBUAE on national QR code development and interoperability, and the second memorandum of understanding between UnionPay International and Al-Etihad Payments represented by H.E. Saif Humaid Al Dhaheri, Chairman of the Board of Managers on enabling the global acceptance of Jaywan - the UAE's domestic card scheme - cards through UPI rails. These two MoUs are expected to diversify payment options for consumers and merchants, facilitate smoother cross-border transaction flows , and support the broader digital payments in both markets. The third MoU was signed between UnionPay International Middle East Branch and Bank of China Abu Dhabi Branch, witnessed by Mr. Dong Junfeng and Mr. Yang Jun, Executive Vice President of Bank of China, which aims to formalize the strategic cooperation  Between the two institutions on the settlement part of cross-border card transactions. An additional MoU was signed separately between the CBUAE and Bank of China Abu Dhabi Branch to support the settlement activity of Jaywan transactions flows processed through UPI rails.

Strategic Partnership with the UAE 

Drawing on its large experience in QR payment network interoperability with multiple markets, UnionPay will provide consulting and technical assistance including payment specifications, security frameworks and partner onboarding rules development, towards supporting the interoperability of the UAE national QR code scheme, which would enable lowering cross-border payment costs and improving local currency settlement efficiency.

Moreover, UnionPay and AEP will steadily expand the global acceptance of Jaywan. Under the signed MoU, Jaywan mono-badged cards will be accepted across UnionPay's global network, kicking off a pilot phase in China's mainland before expanding to other overseas markets. This will enable customers carrying Jaywan mono-badged cards to openly use their cards across the large spectrum of merchants forming part of UPI ecosystem without any additional requirements.

H.E. Saif Humaid Al Dhaheri said: "The signing of these MoUs with UnionPay International and Bank of China Abu Dhabi Branch represents a significant step forward in strengthening payment connectivity between the UAE and China. By interlinking our national QR payment systems and expanding the international acceptance of Jaywan cards, we are enabling more seamless and secure cross-border payments while supporting trade, tourism, and economic cooperation between our two countries." H.E. added: "These partnerships align with the CBUAE's strategy to foster an innovative, competitive payments ecosystem, supported by robust infrastructure and strong international collaboration. They will enhance the payment experience for consumers and merchants and further reinforce the UAE's position as a leading regional hub for digital payments."

"The strategic partnership between China and the UAE continues to deepen, driving a growing demand for seamless cross-border payment services in trade and tourism," said Dong Junfeng. "Building on the MoU on cross-border payments signed by the two central banks in 2025, these agreements will not only provide Chinese tourists to the UAE with more convenient payment options, but also strengthen the global competitiveness and operational resilience of the UAE's domestic payment brand. Furthermore, this partnership will significantly improve local currency settlement efficiency and support bilateral trade ties."

Payment Interoperability & Settlement Partnership with Bank of China Abu Dhabi Branch

Bank of China Abu Dhabi Branch, with its strong RMB clearing capabilities in the local market, will deliver comprehensive settlement and liquidity provisioning for all collaborative payment projects under this strategic partnership.

The bank will provide RMB clearing services and foreign exchange conversion to support the Jaywan global acceptance. UPI and Bank of China Abu Dhabi Branch will also collaborate on diversified dual-branded card products, customized commercial payment solutions, and exclusive settlement processes for cross-border QR payments. A long-term coordination mechanism will be established to support business implementation, ensure compliance with local regulatory requirements, and replicate the success in more markets.

According to Yang Jun, the agreement on the international acceptance of the UAE's national card brand and cross-border QR payment interoperability marks a significant milestone in improving cross-border payment efficiency and supporting China-UAE economic and trade cooperation. The partnership also reflects Bank of China's continued commitment to supporting the development and innovation of financial infrastructure in the UAE and promoting the international use of RMB.

In the UAE, For the UAE

Building upon earlier consensus, UnionPay and AEP will facilitate the issuance of UnionPay-Jaywan cards by major issuers in the UAE. Payments made in the UAE will be processed via the Jaywan system, while international transactions will be routed through UnionPay's global rails, offering more diversified and cost-effective cross-border payment solutions for local consumers and businesses. Prior to this event, the first transaction using co-badged cards was successfully completed and witnessed by senior financial officials from both sides in November 2025.

China and the UAE maintain close economic and trade ties, which is highlighted by the growing bilateral trade and mutual visa exemption arrangements that have significantly boosted people-to-people exchanges. Since entering the UAE market in 2009, UnionPay has enabled broad merchant acceptance across the country and launched contactless and QR payment services in major business districts, tourist attractions, and transportation hubs. UnionPay also supports cross-border remittance and online flight booking, laying a solid foundation for this deeper strategic partnership.

Looking ahead, UnionPay will continue to deepen its presence in the UAE by supporting the global acceptance of Jaywan cards, accelerating the issuance of Jaywan-UnionPay cards, and contributing to the development of the UAE's national QR payment system. Together with all its partners, UnionPay stands ready to facilitate cross-border payment interoperability and strengthen financial sector connectivity between China and the UAE.

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