(1888PressRelease) January 18, 2010
- C3 Card, the first authorized agent to go live with the Ministry of Labour's Wages Protection System (WPS), in partnership with Commercial Bank International (CBI) has signed a strategic agreement with Workers Equity Holding (WEH) to issue a Co-branded electronic payroll card for serving their customers.
Without requiring its customers to have a bank account, C3 Card and WEH offer a payroll card service that provides the same convenience of a bank-issued debit card, with the added feature of being able to transfer funds to a recipient anywhere in the world.
"C3 Card has demonstrated its intention to create solutions that meet all our partners and customers' different needs. The new Co-branded card guarantees quick and efficient service implementation, which is more secure, convenient and flexible than cash management with no extra steps and no chance of incorrect payroll information getting uploaded", explained Anas Zaidan, General Manager of C3 Card.
The payroll service allows customers to process salary payments electronically and provides employees with a secure, efficient and convenient platform to receive their wages. Each employee's salary is automatically disbursed into his/her card as a direct transaction, enabling companies to make accurate and timely salary payments. Employees have immediate access to their money through ATMs across the UAE and region and can also make purchases at enabled point of sale store terminals.
This is part of the C3 Card initiative to support the Ministry of Labour who has launched the WPS as an project to safeguard workers' wage payments via transfers through selected state financial institutions.
Ibrahim Darraz, General Manager of Workers Equity said, "We value our partnership with C3 Card and their commitment to providing innovative, cost-efficient, and secure payroll solutions. Through the C3 - WEH card program, our Customers benefit by enabling their employees with a virtual banking solutions".
Established in the UAE in 2007, C3 Card is planning to expand its operations in KSA and other GCC countries.
Rabih Sfeir, Director of C3 Card, said, "This strategic partnership is the newest in our growing portfolio, which we have built and grown within short space of time. We are keen to work with partners who share in our vision of offering customers secure and comprehensive salary solutions that actively support all future WPS initiatives."
Sfeir added that C3 Card is in negotiations with other key financial institutions to further expand this service and ensure it is widely accessible for companies across the UAE.