HSBC introduces Electronic Payroll Card Services for low wage earners

HSBC Bank Middle East Ltd announced the official launch of the new Payroll Card Service, which will allow customers to process salary payments electronically while giving their employees the benefit of security and the convenience of a debit card.

* United Arab Emirates: * PRESS RELEASE

The service is being provided in partnership with C3 Card, a company specializing in prepaid card and payroll services.

With this new service, companies employing a large number of low wage earners can ensure convenient and timely payments of employee salaries. The MasterCard prepaid card can be used at ATMs across the UAE and the world.  Card users can also swipe their card at any enabled point of sale store terminals to make purchases.

Paul Edgar, Head of Transaction Banking, HSBC Bank Middle East, says:

'Our new payroll product further enhances our extensive menu of business services. Existing wage payment methods have been fraught with inefficiencies as well as posed security issues. With our new and innovative solution, customers can be assured of making prompt payments in an expedient manner, electronically.'

'The Ministry of Labour is in the process of implementing the Wage Protection System in order to protect workers' dues. We believe that the use of a robust electronic payroll system will have an essential role to play in delivering this objective,' he added.

In order to help with usage and overcome first time card user difficulties, HSBC will work with its partners to provide training support. User enquiries will be attended to through a dedicated telephone line available through the C3 support lines in many languages including English and Hindi. Mobile ATM vans may be made available to visit large customer sites, if this is requested as a part of the service proposition.

The service was piloted in the UAE with Kibsons International, a large local importer of fresh food produce. Since then, more than a dozen other companies have been implemented and more are being signed or under process.

The payroll card is a PIN protected card and will have the user's name and passport/labour card number imprinted on the card. The user can access the funds anywhere using any ATM connected to the UAE's ATM network.

Halima Jumani, Operations Manager of Kibsons International said, 'As a company with a large workforce with low income earners, salary disbursements can often be a time consuming procedure involving tedious cash counts and pay slip acknowledgements. With the new Payroll Card Service, HSBC has revolutionized the banking experience of low income earners enabling us to provide our employees with a more efficient and comfortable work environment. Our human resources have also greatly benefited from this solution and we see this as a win-win situation for both Kibson International and our employees.'

HSBC provides transaction banking services to corporations and financial institutions across the world. HSBC Global Transaction Banking (HSBC GTB) provides products, services and solutions to the clients of HSBC's Global Banking and Markets and Commercial Banking businesses.

About C3

C3 Card is a company incorporated in Dubai, with regional Capital. C3 Card has partnered with a Bank in the UAE and has built a capability in the UAE to distribute, activate and top-up Pre-paid cards as well as to provide a comprehensive customer service operation.

C3 Card is the leader for Pre-paid services including regular Pre-paid products, remittances originating from the Middle East and payroll applications.

Payroll

C3 Card offers companies the C3 Payroll card which enables employees to receive their salaries via instant electronic transfer, in accordance with Ministry of Labour legislation which came into effect in January 2008.

Our Challenge

• A convenient multi-purpose solution to eliminate cheques, cash, and pay stubs from payroll
• To eliminate payday fraud
• To streamline operations
• To provide a better experience for employees
• To provide better reporting tools and benefits for the companies

C3 Card meets the challenge and offers an end to end value proposition.

The employees receive the funds on a card rather than having to cash a cheque and it gives them access to shopping on the Internet or through the traditional retail environment. Cardholders do not need to carry cash around.

For the non-banked, this solution removes the inconvenience and cost of exchanging cheques for cash, whilst providing the benefits of a Debit Card such as access to the online world of payments.

C3 Card enables you to deposit the weekly/monthly payroll cash to a settlement account.

The card is significantly easier to manage for all in the value chain.

Benefit to Companies

• Automate salary with a convenient payroll solution
• Eliminate the cost and inconvenience of disbursing salaries by cash or cheque to employees
• Monitor and track salary disbursements through reports on card issuance and funding
• Auto-report will be sent automatically to the Ministry of Labour
• Pay employees at off-site locations
• Pay employees for expense / incentive reimbursement
• Add value in the social environment
• Employees can benefit from promotions

Benefit to Employees

• Immediate funds (wherever the employee is)
• No more cheque cashing or long queues
• Remove the risk of carrying cash
• Ease of use, safe and convenient
• Prestige of having a MasterCard Payroll card
• Shop and pay for goods and services
• Obtain cash from ATMs 24/7
• Money transfer capabilities
• Support via Web/IVR/Call Center

For more information on the program call our customer service hotline or send an email to info@c3card.com