Dubai: Mercury, the UAE’s domestic payment scheme, alongside their partner Al Fardan Exchange LLC has announced the launch of their enhanced ‘Payez’ payroll card. Through the Mercury payment network, Al Fardan Exchange LLC would now be able to provide their existing WPS cardholders utmost flexibility and ease of payment.
Mercury will add POS, ATM and e-commerce channels to Al Fardan Exchange’s existing cards. Salaries transferred via Al Fardan’s Payez card would allow users to pay with their card at more than 140,000 Mercury enabled POS terminals with various merchants as well as to make cash withdrawals at Mercury’s ATM network across the UAE. Mercury also has an international tie–up with Discover to enable cardholders to use their cards on POS and ATMs internationally.
Simon Nelson, Chief Executive Office, Mercury said, “Mercury, as the domestic payment scheme of the UAE, delivers much-needed support for WPS card programs, and provides cardholders access to easy payments. The launch of Al Fardan’s enhanced Payez card with Mercury is a part of our customer-focused strategy and we are proud to partner with them to meet the growing needs of their cardholders. Mercury provides convenience by enabling Payez cardholders to make daily purchases and cash withdrawals through our wider POS and ATM network and provides our partner, Al Fardan Exchange, with the opportunity to grow new revenue streams.”
“Being a pioneering payment scheme in the region, we constantly look at bridging market gaps through innovative and locally relevant service offerings to enable cash to card conversion,” added Simon.
As stated by Osama Al Rahma, CEO of Al Fardan Exchange LLC, “At Al Fardan Exchange, we always believe in products tailored to the customers we serve. We are proud to partner with Mercury to further enhance the existing prepaid offering to our customers by enabling them to use the Chip and Pin based PAYEZ payroll cards that have a wider acceptance at POS and ATM network. This partnership brings in best of breed expertise and technology tailored to serve the majority of unbanked customers we serve under WPS program.”
He added, “At Al Fardan Exchange, we strongly believe in continuous innovation through such partnerships and provide the means for customers to have access to a wide range of financial services with greater product flexibility and ease-of-use. This new product complements a long strategic relationship with Network International for our payroll scheme for more than 10 years.”
Mercury is owned by Network International and First Abu Dhabi Bank. Mercury’s payment platform currently supports prepaid cards and gift card solutions to cater to the needs of exchange houses in the UAE. They are focused on expanding the acceptance across the wider ATM and POS network as well as mobilizing their product development to provide full debit and credit solutions in the very near future.
About Al Fardan Exchange
Al Fardan Exchange L.L.C. is a member of the Al Fardan Group, which has roots stretching back to 1954. Established in 1971, Al Fardan Exchange L.L.C. serve UAE’s cosmopolitan community through our 66+ strong network, spanning across all Emirates. Reinforced by strong relationships with over 150 global corresponding banks, financial institutions and other financial service providers, we offer secure transactions that firmly place reliability and trust in the forefront.
© Press Release 2019