Supports New Ministry of Labour Legislation and Benefits Workers

Dubai, January 30th, 2008: C3 Card, an established card service provider and electronic salary management company in partnership with a financial institution, today received official Ministry of Labour (MoL) endorsement for a new Prepaid and Payroll card.

C3 Card will market a Visa and MasterCard Payroll, which is due to launch in February. The new C3 Payroll card enables employees to receive their salaries via instant electronic transfer, in accordance with MoL legislation which came into effect this January.

The C3 Payroll card provides enhanced financial security and peace of mind for employees, and streamlines the salary disbursal process for corporations.

"Our workforce is an invaluable resource. Ensuring that employees get their salaries on time is a priority, and the Government is serious about it. C3 Card's innovative solutions support the Government's vision and add even more value by providing inclusion of the salaried population into the financial services system" said Dr Ali Bin Abdullah Al Ka'abi, the Minister of Labour.

"The C3 Payroll card further enhances the Ministry's commitment to supporting employees by extending fully fledged state-of-the-art banking services to all. The employees will have the comfort of using their PIN-protected cards at all ATM and merchants both in the UAE and abroad, including their home countries. Its simple and flexible nature will make life much easier for tens of thousands of workers across the UAE", said Dr Mazin Samman, CEO C3 Card.

The C3 Card initiative is in line with the general trend towards prepaid finance options. Research suggests that by the end of 2009, global prepaid and stored value card transactions could reach US$257 billion.

"The C3 Payroll card also adds value beyond mere payroll to the corporations, allowing them to use new technology to streamline their processes", added Dr Mazin Samman.

The C3 Payroll card is re-loadable and can be topped up as required. It also allows instant access to funds, even for off-site employees, or when they are on leave.

C3's operational headquarters is in Dubai and the organisation has a strong expansion strategy in place. It aims to introduce a wide array of prepaid products and will implement several hundred kiosks and branch outlets to service C3 Prepaid and Payroll cards.

-Ends-

Notes for editors:
C3 Card, a leading provider in the Prepaid and Money Transfer payment products and services in the Middle East for the Banked, Un-banked, and Corporate market segments. Across the region, C3 Card will implement, sell, deliver, activate, load a range of prepaid cards; inform and serve the customers.

For more info please contact:
Paul Sader       
+97150 688 7654

Lorien Cross     
+97150 250 2679

Magda Ouanes
+97150 858 9411

© Press Release 2008