Dubai, UAE, 18th October 2009: C3 Card, the leader in electronic payroll solutions in the UAE, announced it has signed an agreement with Mashreq to provide electronic payroll solutions for low wage earners that is compliant with the Ministry of Labour's Wages Protection System (WPS).

The payroll service allows customers to process salary payments electronically and provides employees with a secure, efficient and convenient platform through which to receive their wages. Each employee's salary is automatically loaded onto 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.

Anas Zaidan, General Manager, C3 Card commented on the signing, "The WPS initiative pioneered by the Ministry of Labour reinforces the country's unwavering commitment to boosting the rights of workers and enhancing labour relations across the board.  As the first authorised agent to go live with the WPS system, C3 Card, has demonstrated its intention to support the Ministry of Labour's program and positively contribute to the measures it is implementing to safeguard the rights of low-wage earners."

The WPS was launched earlier this year by the Ministry of Labour and the Central Bank as an initiative to safeguard workers' wage payments via transfers through selected state financial institutions. In the first phase of the program companies with more than 100 workers must comply fully with the system by the end of November. Institutions with 15 to 99 employees have until February 2010 to comply while those with less than 15 employees have a deadline of May 31, 2010 to implement the system.

Omar Saleem Asghar, Head of Wealth Management, Mashreq said, "Our partnership with C3's electronic payroll card directly complements our constant efforts to offer the ultimate convenience to our customers, which comprises of comprehensive banking solutions we offer our customers. This new, innovative solution will further enhance our extensive range of business services and will better meet the needs of our diverse customer base."

Established in the UAE in 2007, C3 Card is planning to expand its operations in KSA and other GCC countries.

Rabih Sfeir, Director, C3 Card, said, "We are constantly looking for partners like Mashreq that share in our vision to offer customers a comprehensive salary solution that is secure and efficient.  We look forward to a successful partnership with Mashreq that will actively support all future WPS initiatives."

Sfeir added that C3 Card currently is in negotiations with other key financial institutions to further expand this service and ensure it is widely accessible for companies across the UAE.

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For further information please visit: www.c3card.com or contact:
Meharyab Niazi
C3 Card
Thuraya Tower 1
Dubai Internet City
Tel: + 9714 4355616
Email: Meharyab.niazi@c3card.com

© Press Release 2009