Majid Al Futtaim Finance, Ajman Bank tie up on payroll solutions

Majid Al Futtaim (MAF) Finance has partnered with Ajman Bank to offer a new 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, MAF said in a statement.

The solution does not require upfront investment, where 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.

“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 customised to meet all their needs,” Rasool Hujair, CEO of Majid Al Futtaim Finance said in a statement.

“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 Hujair.