Dubai, Nov 9: UAE Exchange, the leading global remittance and exchange house based in UAE, has joined hands with MasterCard Worldwide, a leader in advanced global commerce, to launch card based products in the UAE. This association was kicked off today with the launch of the Smart Pay Payroll Card at a glittering function held at Jumeira Beach Hotel, Dubai. The function was attended by top officials including H.E. Abdulla Humaid Ali Al Mazroei, Chairman, UAE Exchange, Dr. B. R. Shetty, MD & CEO, UAE Exchange, Mr. Y. Sudhir Kumar Shetty, COO- Global Operations, UAE Exchange, and Mr. Denzil Lawson, General Manager, Middle East & Levant, MasterCard Worldwide. The 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 payroll card, employees no longer have to wait in long queues for collecting their salary payments. Employee salaries can be loaded onto the Payroll Card by companies who join 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 (CDM’s) 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 more than 1,000 corporate companies in the UAE, positioning itself at the top of payroll brand in terms of growth and popularity.

H. E. Abdullah Humaid Ali Al Mazroei, Chairman of UAE Exchange, said: “We are extremely happy to announce the association of UAE Exchange with MasterCard, a relationship which would churn out more value-laden products to people in the UAE in future, like the Smart Pay Payroll Card launched today. Our feature-packed products lined up for future launch includes Travel, Remittance and Gift Cards, which promises to deliver great convenience and value to our customers.”

Dr. B. R. Shetty, MD & CEO of UAE Exchange added “The 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, powered by the principal membership of MasterCard, enabling 24/7 access to CDMs. We bring to this relationship, our three decades of industry-leading service and expertise with the corporates.”

Mr. 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 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.”

Mr. 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 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.”