United Arab Emirates (UAE)-based First Abu Dhabi Bank is rolling out a payroll card solution for the market via its Mercury payment operator unit, reports in Verdict said on Monday (April 22).
Mercury is collaborating with Al Fardan Exchange to introduce the Payez payroll card for participants of the UAE's Wages Protection System (WPS). Al Fardan Exchange's WPS customers will be able to more easily access wages, use Mercury point-of-sale (POS) terminals and access cash from Mercury ATMs through the use of the Payez payroll card, the companies said.
WPS is a digital salary transfer system supporting the payout of wages through authorized agents, approved by the Central Bank of UAE, the press release said, including banks, money exchanges and financial institutions.
Mercury currently operates more than 140,000 POS terminals in the UAE, the announced noted. Via Mercury's partnership with Discover, the payroll cardholders will also be able to make payments and withdrawals abroad.
"The launch of Al Fardan's enhanced Payez card with Mercury is part of our customer-focused strategy, and we are proud to partner with them to meet the growing needs of their cardholders," said Mercury CEO Simon Nelson in a statement. "Mercury provides convenience by enabling Payez cardholders to make daily purchases and cash withdrawals through our wider POS and ATM network, and provides our partner, Al Fardan Exchange, with the opportunity to grow new revenue streams."
"This partnership brings in best-of-breed expertise and technology, tailored to serve the majority of [the] unbanked customers we serve under WPS program," added Al Fardan Exchange CEO Osama AL Rahma in another statement. "This new product complements a long, strategic relationship with Network International for our payroll scheme for more than 10 years."
