Payroll solution facilitates compliance with the payroll regulations required by the Ministry of Labour and Central Bank
Al Ansari Exchange, a leading provider of worldwide remittance and foreign exchange services, has launched the 'Pay Plus Card', a payroll solution that allows companies to modernise their payroll systems and streamline the preparation and distribution of payrolls through the issuance of a special salary card to their employees. The industry-leading wage payment solution is fully compliant with the 'Wages Protection System' (WPS), a payroll regulation required by the UAE Ministry of Labour and Central Bank. In addition to facilitating compliance with the WPS, the solution also issues automated reports about companies' wage lists to the Ministry, and synchronizes their payroll databases with the Ministry's central database.
Geared towards serving 'unbanked' labourers, the payroll card provides access to salaries across all 88 Al Ansari Exchange branches free of charge, with the added facility to disburse salaries at various work sites and camps for the employees' convenience. In addition to employees, the solution also brings relief to employers with minimal paper work and documentation procedures for payroll enrolling; fast and efficient account reconciliation; complete automation for back-end procedures, reports and routine operations. A company representative also revealed that they are in talks with several leading banks to tie up the 'Pay Plus Card' to their ATM networks.
"There are over 2 million blue collared employees in the UAE, and our goal is to help a significant percentage of this segment preserve their financial rights through a technology-driven system that ensures prompt and accurate delivery of salaries with greater flexibility," said Mohammad Al Ansari, Managing Director, Al Ansari Exchange. "In addition to salary disbursement, we have also fashioned this hassle-free and zero error solution to serve as an automated remittance facility for employees through the Al Ansari Exchange network to anywhere in the globe."
Developed to enable private companies to modernise their payroll systems and streamline the preparation and distribution of salaries the 'Pay Plus Card' can also be used through POS machines. The POS system will authenticate the customer, provide account balance, and offer withdrawal option with the agent handing the cash and remittance transaction for sending money to linked remit accounts.
"An automated salary disbursement and remittance facility holds extensive benefits for both employees and employers, and we applaud the foresight of the Ministry of Labour and the UAE Central Bank to facilitate this initiative as part of WPS. Our untiring efforts to help companies comply with this exemplary scheme speaks of our commitment to the regional market, and we are confident that the 'Pay Plus Card' will play a significant role in the total automation of payrolls across the UAE," concluded Al Ansari.
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About Al Ansari Exchange
Al Ansari Exchange is a leading provider of worldwide remittance and foreign exchange services, and was one of the first exchange companies to be accredited to ISO 9001:2000 quality certification in the year 2004. As a testament to the exemplary quality of the services it provides, the company was recently awarded a trophy as one of UAE's strongest brands during the Superbrands Tribute Event held at the Intercontinental Hotel, Dubai Festival City.
For more information, please contact:
CommuniGate Middle East
PO Box 66861, Dubai, UAE
Tel: +971 4 3988134
Fax: +971 4 3988137
Email: info@communigateme.com
Website: www.communigateme.com
© Press Release 2010