NI to provide complete Switching & connectivity services to Al Fardan and enable ATM transactions for Al Fardan Emoney cards

Dubai - 15 September, 2010: Network International, the preferred card solutions provider and the largest acquirer in the region, and Al Fardan Exchange, a renowned remittance house in the UAE, have entered into an agreement through which Network International will provide complete connectivity with Al Fardan Exchange's flagship product- Emoney. The agreement includes connectivity for a 'Transaction Set' comprising of cash withdrawal, balance enquiry, remittance and a host of other services for Emoney prepaid salary cards, and will make Al Fardan the first Exchange house to offer remittance services through ATM network of ENBD.

There are over 269,100 companies under the new Wage Payment System (WPS) regulation employing over 4 million employees in the UAE. Many of them see prepaid payroll cards as the perfect replacement for the paper checks now used to pay workers as they provide an easier and smoother payroll process system as well as catering to unbanked employees. The prepaid cards also present blue-collar workers with a much more convenient payment mechanism, allowing them to manage their finances in a variety of ways as well as improving security.

With this agreement Network International will provide Al Fardan Exchange with a host of services, including complete screen development and integration with the Al Fardan's existing Switch platform. The screens will function when an Al Fardan Card is used on Emirates NBD (ENBD) ATMs across the country, allowing Emoney card holders to access their familiar screens and options at over 650 locations. Emoney cardholders can also use the ATM network to remit money to over 110 correspondent banks worldwide.

Network International will also provide monthly maintenance of the connectivity platform to minimize downtime, including connectivity audits and technical support. The service will offer consumers a convenient and cost-effective way to complete their transactions.

"Network International is recognized and trusted for its unsurpassed card payment solutions infrastructure. Al Fardan Exchange has proven to be the favoured choice for remittance services for consumers in the UAE over the past 3 decades. This alliance is no doubt a further testament to the exponential added-value offered to the large customer base of Al Fardan Exchange." Said Ram Chari, CEO of Network International.

Osama Al Rahma, General Manager of Al Fardan Exchange said, "Al Fardan Exchange has been providing EWPS operations to thousands of workers in renowned companies in the UAE with great success. We are committed to provide services that deliver real value to our customers, and we consider it a great privilege to help corporates across the UAE to disburse salaries as per the convenience of their employees.  Employees on the other hand are enjoying the simplicity and convenience of withdrawing their salaries through their personalized Emoney card with an option to transfer funds directly using POS terminals deployed in Al Fardan Exchange branches, labor camps and now through ENBD's extensive ATM network across UAE."

Network International has been a pioneer in the area of Card Issuing, Merchant Acquiring and Card Payment Processing. This agreement will allow Network International to reconcile and settle transactions done on onus (ENBD) ATM terminals and perform MIS and turnover standard reporting. The partnership represents a new era of convenience to the residents of the UAE.

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About Network International:
Established in 1994, Network International LLC is the largest acquirer and one of the leading payment solutions providers in Region geared to meet the needs of Banks, Financial institutions, and large and individual retailers. It is a Principal Member of Visa International and MasterCard International for the UAE, offering customers the most comprehensive range of payment products and services in the Gulf and MENA region, for both the Issuing and Acquiring segment of the card payment industry. Offerings include credit and debit card processing services, ATM management and monitoring, merchant acquiring plus consumer finance applications. Network International provides consultancy services ranging from planning and designing, to developing of new card and consumer finance products and services. 

Network International is the first independent vendor certified by both Visa & MasterCard for card payments in the Middle East. It is the UAE's largest payment acquirer for Credit & Debit Cards and the largest third-party processing vendor which is capable of providing banks, the retail industry and financial institutions with complete EMV certified solutions as they migrate to EMV Smart Card technology.

About Al Fardan Exchange:
Al Fardan Exchange is one of the oldest and leading names in the UAE remittance market and a pioneer in the industry of UAE money exchange business. Privileged to be a part of the reputable Al Fardan Group, Al Fardan Exchange is into the remittance market since more than 37 years.

Since its inception in 1971 Al Fardan Exchange has seen many faces of the industry and crossed many milestones. The backbone of their remittance business is driven by 120 reputed correspondent banks and agents worldwide. Further extending its service, Al Fardan Exchange introduced Payroll Services in January 2008 which was driven by a state of art technology serving corporate customers willing to have hassle free salary disbursement. To enhance the service. 

For further information about Network International, please contact
Sana Lababidi
Raee Public Relations
Tel: +971 4 3415558
Fax: +971 4 3415559
Sana@raeepr.com

For further information about Al Fardan Exchange, please contact
Saif Khan
Manager - Business Development
Tel: +9714 2280004
Fax: +9714 2277519
saif@alfardanexchange.com

© Press Release 2010