View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
  2. Company news
April 22, 2019

Mercury partners Al Fardan Exchange to launch Payez payroll card

UAE-based payment operator Mercury, owned by Network International and First Abu Dhabi Bank, has partnered with Al Fardan Exchange to launch Payez payroll card for WPS customers.

The newly launched card will provide Al Fardan Exchange’s existing WPS customers in UAE with access to POS and ATMs.

Earnings received in this card will allow cardholders to make payments at over 140,000 Mercury enabled POS terminals.

The card also allows users to withdraw amount at any of the Mercury’s ATMs in UAE.

Mercury’s tie-up with Discover also enables cardholders to make international payments and withdrawals.

Mercury CEO Simon Nelson said: “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.

Al Fardan Exchange CEO Osama Al Rahma said: “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.

“This new product complements a long strategic relationship with Network International for our payroll scheme for more than 10 years.”

WPS (Wages Protection System) is an electronic salary transfer system that allows institutions to pay worker’s wages through approved and authorised agents approved by Central Bank of UAE, consisting of banks, money exchanges and financial institutions.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU