Dubai – Mubasher: Mashreq Bank has expanded payment options for customers across the UAE with the acceptance of Jaywan cards on all NEOPAY terminals, according to a press release.
Jaywan is owned and managed by Al Etihad Payments, a subsidiary of the Central Bank of the UAE (CBUAE). It is secure and comparable to global networks, but tailored specifically for the UAE market.
The partnership will enable customers to use Jaywan cards at all Mashreq NEOPAY-enabled merchants nationwide, providing more accessible and cost-effective payment solutions.
Vibhor Mundhada, CEO of NEOPAY at Mashreq, commented: “This partnership will expand our payment network, offering seamless transactions that will further empower customers within the payment space.”
Jan Pilbauer, CEO of Al Etihad Payments, mentioned: "By prioritising broad acceptance, we ensure that when the first Jaywan card is issued, it works seamlessly at merchant terminals, ATMs, and other channels—building trust and empowering both residents and businesses.”
A consortium including Arcapita Group Holdings Limited and Dgpays agreed to acquire a majority stake in NEOPAY, the UAE’s fast-growing payment solutions provider.
Last month, a consortium including Arcapita Group Holdings Limited and Dgpays acquired a majority stake in NEOPAY at an approximate enterprise value for NEOPAY of $385 million.
