Transguard adopts payroll card system
Dubai, August 30, 2009
Transguard, a part of the Emirates Group and leading provider of security and business support services, has introduced a new salary payment scheme for its employees, to help boost security and make payroll delivery more efficient.
With the new C3 Payroll card, members of staff without bank accounts no longer have to receive their salaries in cash.
“We have already managed to pay over 2,000 employees through salary cards with a further 2,500 receiving their cards in September. The C3 card makes our payroll far more efficient. It’s more secure because no cash is required on site and it’s more convenient for our employees who can visit any ATM in the UAE or worldwide to retrieve their salary,” said Mark Lindley, group HR director at Transguard.
The handy PIN-activated card prevents the need for staff to carry cash around – making them a potential target for theft or fraud – although it can be used to withdraw notes from ATMs and pay for goods and services at any MasterCard-accredited ATM or outlet. Staff can even dial up a 24-hour hotline for additional support.
“With staff located at a number of different locations the transfer of salaries through payroll cards as opposed to cash significantly reduces the administration and risks associated with salary transfers as well as providing our employees with an efficient way to manage the funds received,” added Transguard’s chief financial officer John Nolan.
The card falls under the remit of the Wages Protection System (WPS), initiated by the Ministry of Labour and UAE Central Bank, which aims to cut the amount of hard cash being kept at workplaces.
The WPS becomes compulsory in November this year in accordance with Ministerial Resolution 788, meaning companies will no longer be able to pay employees in cash. Staff salaries will have to be paid directly into an employee’s personal bank account – or to salary cards like C3, if employees don’t hold a bank account.-TradeArabia News Service