| 08 Jul 2009 |
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HSBC Introduces Electronic Payroll Card Services for Low Wage Earners
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Customers can enjoy compliance with new regulations outlined by UAE Ministry of Labour
HSBC Bank Middle EastHSBC Bank Middle East
Ltd announced the official launch of the new Payroll Card Service, which will allow customers to process salary payments electronically while giving their employees the benefit of security and the convenience of a debit card. The service is being provided in partnership with C3 Card, a company specializing in prepaid card and payroll services. With this new service, companies employing a large number of low wage earners can ensure convenient and timely payments of employee salaries. The MasterCard prepaid card can be used at ATMs across the UAE and the world. Card users can also swipe their card at any enabled point of sale store terminals to make purchases.
Paul Edgar, Head of Transaction Banking, HSBC Bank Middle EastHSBC Bank Middle East, says "Our new payroll product further enhances our extensive menu of business services. Existing wage payment methods have been fraught with inefficiencies as well as posed security issues. With our new and innovative solution, customers can be assured of making prompt payments in an expedient manner, electronically.
"The Ministry of Labour is in the process of implementing the Wage Protection System in order to protect workers' dues. We believe that the use of a robust electronic payroll system will have an essential role to play in delivering this objective."
In order to help with usage and overcome first time card user difficulties, HSBCHSBC
will work with its partners to provide training support. User enquiries will be attended to through a dedicated telephone line available through the C3 support lines in many languages including English and Hindi. Mobile ATM vans may be made available to visit large customer sites, if this is requested as a part of the service proposition.The service was piloted in the UAE with Kibsons International, a large local importer of fresh food produce. Since then, more than a dozen other companies have been implemented and more are being signed or under process.
The payroll card is a PIN protected card and will have the user's name and passport/labour card number imprinted on the card. The user can access the funds anywhere using any ATM connected to the UAE's ATM network.
Halima Jumani, Operations Manager of Kibsons International said, "As a company with a large workforce with low income earners, salary disbursements can often be a time consuming procedure involving tedious cash counts and pay slip acknowledgements.
With the new Payroll Card Service, HSBCHSBC has revolutionized the banking experience of low income earners enabling us to provide our employees with a more efficient and comfortable work environment. Our human resources have also greatly benefited from this solution and we see this as a win-win situation for both Kibson International and our employees."
HSBCHSBC provides transaction banking services to corporations and financial institutions across the world. HSBCHSBC Global Transaction Banking (HSBCHSBC GTB) provides products, services and solutions to the clients of HSBCHSBC's Global Banking and Markets and Commercial Banking businesses.
HSBCHSBC Holdings plc - www.hsbc.com
HSBCHSBC Holdings plc, the parent company of the HSBCHSBC Group, is headquartered in London. The Group serves customers worldwide from around 9,500 offices in 86 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of US$2,527 billion at 31 December 2008, HSBCHSBC is one of the world's largest banking and financial services organisations. HSBCHSBC is marketed worldwide as 'the world's local bank'.
HSBCHSBC in the Middle East
HSBC Bank Middle EastHSBC Bank Middle East Limited is the largest and most widely represented international bank in the Middle East. HSBC Bank Middle EastHSBC Bank Middle East Limited has 45 branches throughout the United Arab Emirates, Oman, Bahrain, Qatar, Kuwait, Jordan, Lebanon, Pakistan and the Palestinian Autonomous Area. In addition to the branch network, the bank maintains representative offices in Tehran, Iran and Tripoli, Libya. This extensive regional coverage is strengthened by another member of the HSBCHSBC Group, HSBCHSBC Bank Egypt SAE, and by its associated companies: The Saudi British Bank; British Arab Commercial Bank Limited; HSBCHSBC Saudi Arabia Limited; SABB Securities Limited; SABB Takaful Co.; and Dar Es Saalam Investment Bank.
Further media information is available from:
Media enquiries to Andrea Jaishankar,
Manager Communications,
HSBC Bank Middle EastHSBC Bank Middle East Limited on 04 4235635
andreajaishankar@hsbc.com
© Press Release 2009
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