Majid Al Futtaim (MAF) Finance has signed a collaboration with Ajman Bank that will offer a technology platform to companies involved in providing payroll services.

Payroll services providers, such as exchange houses, banks and specialised HR companies, will now benefit from an end-to-end solution comprising their own co-branded Visa card, powered by MAF Finance technology and expertise, with UAE Switch access, and Wage Protection System (WPS) compliance supported by Ajman Bank, a statement said.

The solution will fast track industry growth by enabling payroll services providers to deploy a readymade, cost effective product without the need for upfront investment.

The Visa payroll card from MAF Finance can also be fully branded to reflect the payroll service provider’s identity. This unique feature extends to all customer touch points, such as website and marketing collaterals.

“This alliance between MAF Finance and Ajman Bank addresses a gap in the market place; it makes it possible for payroll service providers to issue sophisticated payroll card programs without the burden of setting up and ongoing maintenance of a complex and expensive technology platform,” said Rasool Hujair, CEO of Majid Al Futtaim Finance.

“The solution is comprehensive and can be customized to meet all their needs. For the end user, the solution gives them the flexibility to use the card to withdraw cash from all ATMs across the country or use it where ever Visa is accepted; at the point of sale or online.”

“It is also supported by simple but powerful website and IVR service options enabling cardholders to block lost or stolen cards, view transaction history, balance inquiry and to make card to card transfer” added Hujair.

Mohamed Amiri, deputy chief executive officer, Ajman Bank, said: “At Ajman Bank we are committed to developing products and services that support businesses across the UAE.”

“We are delighted to work with MAF Finance to develop this solution which will enable payroll providers in the UAE to access the very best salary card technology available in the market today, providing them with a real competitive advantage,” he concluded. – TradeArabia News Service