UnionPay Signs Cross-Border Payment Agreements With UAE Central Bank and Al Etihad Payments

UnionPay International has signed three memorandums of understanding aimed at strengthening payment connectivity between China and the UAE, according to an announcement dated July 24, 2026. The agreements were concluded with the Central Bank of the UAE, Al Etihad Payments and the Abu Dhabi branch of Bank of China during a ceremony held in Shanghai. The chairman of China UnionPay and UnionPay International signed the first memorandum, and the parties described the package as a milestone for cross-border payment interoperability and wider financial sector connectivity between the two countries. The Central Bank of the UAE is the supervisory and regulatory authority for both banking and insurance in the country, having absorbed the former Insurance Authority, and has made payments modernisation a central plank of its strategy alongside financial stability and consumer protection. Al Etihad Payments operates the UAE's domestic payment infrastructure, including the national card scheme and instant payments platform. Greater interoperability between card and instant payment networks typically lowers costs and friction for travellers, remittance senders and businesses trading across the two markets, though implementation details and timelines were not disclosed.