UAE Exchange joins hands with MasterCard Worldwide to launch card based products

Dubai, Nov 9: UAE Exchange, the leading global remittance and exchange house based in UAE, has joined hands with MasterCard Worldwide, a leader in advanced global commerce, to launch card based products in the UAE. This association was kicked off today with the launch of the Smart Pay Payroll Card at a glittering function held at Jumeira Beach Hotel, Dubai. The function was attended by top officials including H.E. Abdulla Humaid Ali Al Mazroei, Chairman, UAE Exchange, Dr. B. R. Shetty, MD & CEO, UAE Exchange, Mr. Y. Sudhir Kumar Shetty, COO- Global Operations, UAE Exchange, and Mr. Denzil Lawson, General Manager, Middle East & Levant, MasterCard Worldwide. The Payroll Card is designed to usher in a new era of convenience for companies and their employees by processing and managing salaries efficiently in compliance with the stipulations of the Wages Protection System and the directives of the UAE Ministry of Labour.

With the new payroll card, employees no longer have to wait in long queues for collecting their salary payments. Employee salaries can be loaded onto the Payroll Card by companies who join the Smart Pay service. The employees would in turn be able to access their salary accounts easily and in a secured manner anytime, anywhere through the wide network of Cash Dispensing Machines (CDM’s) installed by UAE Exchange, using their payroll card free of charge.

Smart Pay is offered by UAE Exchange as an important value-laden product from its comprehensive portfolio. Smart Pay incorporates other popular modes of salary payout as well, including payouts at the wide-networked branches of UAE Exchange in the UAE, and at major labour accommodation complexes. Smart Pay presently caters to more than 1,000 corporate companies in the UAE, positioning itself at the top of payroll brand in terms of growth and popularity.

H. E. Abdullah Humaid Ali Al Mazroei, Chairman of UAE Exchange, said: “We are extremely happy to announce the association of UAE Exchange with MasterCard, a relationship which would churn out more value-laden products to people in the UAE in future, like the Smart Pay Payroll Card launched today. Our feature-packed products lined up for future launch includes Travel, Remittance and Gift Cards, which promises to deliver great convenience and value to our customers.”

Dr. B. R. Shetty, MD & CEO of UAE Exchange added “The Payroll Card, in times to come, is set to become the premier choice for employers and employees both at a local and global level. It is a great privilege for us to help thousands of corporates across the UAE to disburse salaries as per the convenience of their employees, powered by the principal membership of MasterCard, enabling 24/7 access to CDMs. We bring to this relationship, our three decades of industry-leading service and expertise with the corporates.”

Mr. Y. Sudhir Kumar Shetty, COO- Global Operations of UAE Exchange said “We are highly preferred in the country in terms of payroll processing volumes. The Payroll Card would make accessing salary funds really easy for people in the UAE. Smart Pay, right from its launch, has aimed at helping corporates better their payroll processing by infusing greater reliability and efficiency, and the results till date point to our outstanding success.”

Mr. Denzil Lawson, General Manager, Middle East & Levant, MasterCard Worldwide said, “In line with our continued commitment to offer our customers innovative and distinct card programs, we are delighted to work with UAE Exchange to introduce Smart Pay Payroll Card. Organizations in the UAE are transitioning to payroll cards as they recognize the convenience and security of electronic payment solutions realized by the employer and the employees.”

UAE Exchange wins Banker Middle East Products and Dubai Service Excellence Scheme awards

Quality service has always scored high. UAE Exchange, the leading global remittance and Foreign Exchange brand, winning multiple awards for service stands testimony to this. The latest recognitions for the remittance major came through the Banker Middle East Products Award in Best Exchange Service category and also the Dubai Service Excellence Scheme Award in the Best Performing Outlet category, recently in Dubai.

Standard Chartered Bahrain ties deal with UAE Exchange to expand payment network

Standard Chartered Bahrain in partnership with UAE Exchange is to expand its payment network to 5 payment locations. Standard Chartered Credit Cardholders has the convenience of making cash payments of their credit card bills of up to a maximum of BD2,000 at any of the five UAE Exchange branches in the Kingdom of Bahrain.

UAE Exchange has a network of 5 branches in Bahrain and is recognized in the Bahrain remittance industry since its establishment in 2007. UAE Exchange has branches at LuLu Hypermarket - Riffa, Muharraq, Gudaibiya and in Sh. Hamad Road and Manama.

Commenting on the partnership, B.Chandrasekhar, Regional Head of Consumer Banking Northern Gulf Levant and Oman, Standard Chartered Bank said,

"The expanded payment option service at the UAE Exchange branches is designed to provide a convenient banking experience. Standard Chartered cardholders can now enjoy additional complimentary payment services at the 5 branches of UAE Exchange in addition to the bank's counters and its online banking channel, `iBanking'. Partnering with an established and trusted exchange house, such as UAE Exchange, underscores our commitment to providing convenient, safe and secure payment options to our customers."

Santhosh Nair, Country Head, UAE Exchange, Bahrain said,

"We are proud to associate with Standard Chartered Bank to offer our services to the Bank's cardholders. Our partnership with Standard Chartered Bank will provide our customers with yet another convenient service that will enable them to pay their credit card bills quickly and with confidence. We hope cardholders will take advantage of this bill payment facility as well as enjoy world-class money remittance services offered by UAE Exchange"

Standard Chartered Bank, the first bank in Bahrain, has been in the Kingdom for 90 years since 1920 and has a network of 5 branches. Cardholders can call 17 531 532 or visit the nearest UAE Exchange branch for more information.

Now you can receive money from India easily!

Customers’ convenience has been the foremost thing in UAE Exchange’s preamble. We continuously seek innovative ways to add value to you, our customer, with new products and services. Receive Money Remittance from India is one such unique service by our India operations. You can now receive money from India to your bank account anywhere in the world.

Salient Features

  • Receive money from India to your local bank account anywhere in the world within 48 hours.
  • Send up to USD 100,000 abroad in a Financial year from your NRO account under the ‘’Maintenance to close relative’’ category.
  • Cash Payment of up to a maximum of Rs. 50,000  in a single transaction.
  • Remit up to USD 1 million in a financial year  from your NRE/NRO account to any foreign country.
  • Remit up to USD 200,000 to a NRI friend settled abroad under the ‘’Gift purpose’’ category in a financial year.

- Payment above Rs. 50,000, by A/C payee cheque, pay order or A/C payee DD required.
- Minimum of Rs. 250 + Service Tax for every transaction.
- Money cannot be sent to a foreign national’s account.

UAE Exchange releases the book 'Lata - Voice of the Golden Era' - April 2011

- A tribute to Lata Mangeshkar by Dr. Mandar V. Bichu
- The book was unveiled by Dr. B. R. Shetty, MD & CEO, NMC Group on 23rd April, 2011

UAE Exchange increases presence in Al Gharbia, the Western Region of Abu Dhabi

- Opens 3 more branches in strategic locations

“We identify an opportunity, when we see one.” said Mr. Y. Sudhir Kumar Shetty, COO — Global Operations, UAE Exchange, while talking on the occasion of the inauguration ceremony of three new branches in Sila, Ghayathi and Liwa. The new outlets are strategically planned in Al Gharbia, the Western Region of Abu Dhabi, a fast upcoming hub with focused developmental activities of the Government of UAE. UAE Exchange currently has three branches in the region — Ghayathi, Madinat Zayed and Ruwais. With three new branches, its presence in the region will be strengthened to six. 

Mr. Shetty further added that, “The UAE Government through Western Region Development Council (WRDC), has identified the potential of the province and has planned out to develop it extensively. This shows the farsightedness and vision for a bright future set by the Government. These new branches will add to our strong network of over 500 branches across 22 countries in five continents. They also strengthen our extensive network in the UAE, taking the total score to 96.”

Always a harbinger of change, UAE Exchange with its innovative approach and strategic partnerships, has continued to add new products and services to its wide range and bring more value to its customers. Its strong correspondent relationship with over 150 global banks adds to the convenience.

“Over three decades, UAE Exchange has grown into a people’s brand globally; winning customers through its unwavering focus on reliability, product quality and service excellence. A strong community member and a responsible corporate citizen, UAE Exchange has always aimed to add value to customers, partners, communities and the society at large. Today customers turn to us not only for remittance and Foreign Exchange but for solutions for their multiple financial requirements. And I feel UAE Exchange today can be considered as a financial supermarket.” said Mr. Shetty before signing off.

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