HSBC introduces Electronic Payroll Card Services for low wage earners

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.