UAE Exchange and MasterCard Launch 'Smart Pay Payroll Card'

Media Release

Dubai, November 10:  UAE Exchange, the leading global remittance and exchange house based in the UAE, in collaboration with MasterCard Worldwide, a global payment solutions company, today launched the MasterCard Smart Pay Payroll Card at an event held at the Jumeira Beach Hotel, Dubai. 

The function was attended by senior executives including Abdulla Humaid Ali Al Mazroei, Chairman, UAE Exchange, Dr. B. R. Shetty, MD & CEO, UAE Exchange, Y. Sudhir Kumar Shetty, COO - Global Operations, UAE Exchange, and Denzil Lawson, General Manager, Middle East & Levant, MasterCard Worldwide. 

The Smart Pay Payroll Card is designed to usher in a new era of convenience for companies and their employees by processing and managing salaries efficiently in compliance with the stipulations of the Wages Protection System and the directives of the UAE Ministry of Labour.

With the new Smart Pay Payroll Card, employees no longer have to wait in long queues to collect their salary payments. Employee salaries can be loaded onto the Payroll Card by companies who enroll for the Smart Pay service. The employees would, in turn, be able to access their salary accounts easily and in a secured manner anytime, anywhere through the wide network of Cash Dispensing Machines (CDMs) installed by UAE Exchange, using their Payroll Card free of charge. 

Smart Pay is offered by UAE Exchange as an important value-laden product from its comprehensive portfolio. Smart Pay incorporates other popular modes of salary payout as well, including payouts at the wide-networked branches of UAE Exchange in the UAE, and at major labour accommodation complexes. Smart Pay presently caters to thousands of corporate companies in the UAE, positioning itself at the top of payroll brands in terms of growth and popularity.

Abdullah Humaid Ali Al Mazroei, Chairman of UAE Exchange, said: “We are extremely happy to announce the association of UAE Exchange with MasterCard and we look forward to continuing to work together in the future. UAE Exchange is committed to the development of value-laden products for people in the UAE. The Smart Pay Payroll Card launched today, is the first of many feature-packed products lined up for future launch including Travel, Remittance and Gift Cards, that promise to deliver great convenience and value to our customers.” 
 
Dr. B. R. Shetty, MD & CEO of UAE Exchange added “The Smart Pay Payroll Card, in times to come, is set to become the premier choice for employers and employees both at a local and global level. It is a great privilege for us to help thousands of corporates across the UAE to disburse salaries as per the convenience of their employees, enabling 24/7 access to CDMs. We bring to this relationship, our three decades of industry-leading service and expertise with the corporates.” 
 
 Y. Sudhir Kumar Shetty, COO- Global Operations of UAE Exchange said “We are highly preferred in the country in terms of payroll processing volumes. The Smart Pay Payroll Card would make accessing salary funds really easy for people in the UAE. Smart Pay, right from its launch, has aimed at helping corporates better their payroll processing by infusing greater reliability and efficiency, and the results till date point to our outstanding success.” 

Denzil Lawson, General Manager, Middle East & Levant, MasterCard Worldwide said, “In line with our continued commitment to offer our customers innovative and distinct card programs, we are delighted to work with UAE Exchange to introduce MasterCard Smart Pay Payroll Card. Organizations in the UAE are transitioning to payroll cards as they recognize the convenience and security of electronic payment solutions realized by the employer and the employees.”

About UAE Exchange

UAE Exchange is a leading global remittance and exchange house based in UAE, with direct operations spanning 22 countries across five continents with over 450 offices. With correspondent banking relationship covering more than 150 global banks, over 45,000 global agent locations, and associations with many leading brands globally to bring several value-added products to customers, UAE Exchange provides unmatched service in the industry to a wide customer base of  around 3.5 million. In UAE, the brand has a leading presence with a network of 80 branches covering all the Emirates. For more information, go to www.uaeexchange.com.

About MasterCard Worldwide

MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes approximately 21 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants. Powered by the MasterCard Worldwide Network and through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com.

 
Contacts:

Prasanth J H, Head- Corporate Communications, UAE Exchange

Tel: +971 2 4945485, prasanth.jh@uaeexchange.com

Moideen Koya, Head- Media Relations, UAE Exchange

Tel:  +971 2 4945484, moideenkoya.kk@uaeexchange.com