Smart Pay takes on payroll nightmare challenges, head on.
Is salary payment a nightmare for you every month? While it is exciting to watch the business grow, it can make payroll management a daunting task with tedious paperwork. As you struggle with it, your employees may suffer with inconsistent and erroneous salary payment. So the situation is not an advisable one for both parties.
In the last three decades, UAE witnessed great economic development, many businesses mushroomed and employee base increased. With the manpower increase, authorities felt the need to streamline the salary disbursal process, reducing inconvenience to employers and employees. Towards this, the UAE Ministry of Labour and UAE Central Bank together came up with a unique solution called Wages Protection System (WPS). As per the Government’s vision it was mandatory for all companies to comply with WPS, which protected the interests of both employees and employers.
Aligning with this vision and to bring convenience to companies and their employees, UAE Exchange, the leading global remittance and foreign exchange brand, launched Smart Pay. This innovative payroll solution revolutionised the salary disbursal process in the UAE, while complying with WPS. Companies can register for Smart Pay at any UAE Exchange branch and entrust their employees’ salary payments to it. Once registered, they just need to send in their employee details and salary fund. Workforce can, then conveniently walk in to the UAE Exchange branch network of 122 branches across the UAE, including 14 in the Dubai Metro stations, to show their company identity card and collect their salaries. Thanks to Smart Pay’s technological strides, they can now collect salaries within two hours of fund deposit. Smart Pay also offers salary disbursal at the labour camp sites upon specific arrangements with the companies.
To enhance the value quotient, UAE Exchange partnered MasterCard to bring Smart Pay-MasterCard electronic payroll card. This card empowers employees to withdraw their salaries from any MasterCard enabled ATM; and swipe it to make purchases through Point of Sale (POS) machines at MasterCard approved merchant locations, worldwide. UAE Exchange has also installed proprietary Cash Dispensing Machines (CDM) and POS machines at its branches, from where salary can be withdrawn at no extra cost.
Today tens of thousands of corporate entities have partnered Smart Pay, enabling easy salary disbursal to millions of employees. The value addition from Smart Pay doesn’t end there, for it has always recognised and appreciated excellence among its clients. Towards this, it initiated the Smart Pay Appreciation Programme, which recognises top 10 entities out of its clients every year. Smart Pay’s tradition of value addition puts more in the pipeline in the form of facilities for online uploading and tracking along with report retrieval and account status. With the best of solutions, Smart Pay plans to take the challenges head on, thus elevating payroll management to the next level.