UnionPay International Expands UAE Payment Interoperability with Three Strategic MoUs
Event summary
- UnionPay International signed three MoUs with the CBUAE, AEP, and Bank of China Abu Dhabi Branch on July 21, 2026.
- Agreements focus on national QR code interoperability, global acceptance of Jaywan cards, and cross-border payment settlement.
- Pilot phase for Jaywan card acceptance will start in mainland China before expanding to other markets.
The big picture
These agreements build on a 2025 MoU between China and UAE central banks, reflecting deepening financial ties. The partnerships aim to lower cross-border payment costs and improve local currency settlement efficiency, supporting growing bilateral trade and tourism. UnionPay's experience in QR payment interoperability will be leveraged to enhance the UAE's national QR code scheme.
What we're watching
- Execution Risk
- Whether UnionPay can successfully implement the pilot phase for Jaywan card acceptance in China and expand globally.
- Regulatory Compliance
- How the long-term coordination mechanism will ensure compliance with local regulatory requirements in both markets.
- Market Expansion
- The pace at which UnionPay and AEP can accelerate the issuance of Jaywan-UnionPay cards in the UAE.
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