Majid Al Futtaim Finance and Ajman Bank sign alliance to provide end-to-end payroll card solutions

Majid Al Futtaim (MAF) Finance announced today a collaboration with Ajman Bank that will offer an industry-leading 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.

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. Furthermore, companies can take advantage of the best available technology that is already connected to the country’s ATM network and Wage Protection System leaving them to focus on their core business.

In what is a commercially competitive advantage, the Visa payroll card from MAF Finance can 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. The solution is comprehensive and can be customized to meet all their needs” said Rasool Hujair, CEO of Majid Al Futtaim Finance.

“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 Mr. Hujair.

Mr. 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.”