UnionPay International offers secure prepaid salary cards

EMIRATES BUSINESS

Ensuring a secure salary transfer system to the corporates in the UAE, UnionPay International has launched region’s first EMV prepaid salary cards. Through these cards, banks in the UAE can now offer workers secure and advanced payment services conforming to the country’s Wage Protection System (WPS), at
economic costs.
UnionPay International is a global provider of high quality, cost effective and secure cross-border payment services to the world’s largest cardholder base.
“Once again, UnionPay International partners with leading local banks and payment processing companies to offer labour a secure and robust payment scheme,” said Han Wang, General Manager, UnionPay International Middle East.
“With UnionPay’s financially viable EMV prepaid salary cards, banks can guarantee labour have access to an array of benefits and a global access to their funds,”
he added.
By using UnionPay prepaid salary cards, workers can benefit from a wide range of privileges similar to those of regular electronic banking including global withdrawal, and global point
of sales purchases.
Cardholders will have global access to their finances as well as the ability to withdraw from their home country.
This card issuance runs in line with UnionPay International and the country’s aim to empower the labour segment through the WPS, a system by the Central Bank of the UAE developed to better protect labour.
Prepaid salary cards have been issued by a number of financial institutions in the UAE but this new offering of UnionPay International represents the first of its kind based on EMV and contactless card technology.
Established in March 2002, UnionPay International is a convenient and internationally accepted payment network building the bridge between buyers and sellers through different payment methods which vary from ATM cash withdrawal, to POS terminal for purchase and even online payments.
“This card is of many benefits to the users. Labourers can keep a close tab on their salary transfers and each monetary transaction just like any bank’s ATM card. They can also use this card to withdraw money from anywhere in the world and could make purchases and pay through them,” said a senior banker based in Abu Dhabi, requesting not to be named.