The UAE’s Wages Protection System (“WPS”) was introduced throughout the country in 2009, requiring private sector companies to pay their workers electronically and in compliance with the Ministry of Labor (“MOL”) guidelines.
Many companies struggle with or are dissatisfied with their current payroll arrangements, since the majority of banks are only willing to open salary accounts for employees in the higher income bracket. This leaves many companies with inadequate and costly payroll issues.
Solution: The Mint Payroll Card
The Mint Payroll Card delivers an automated and secure payroll system required by WPS as well as a money transfer system, offering modern banking to the “unbankable” employees and making the tedious process of payroll/money transfer simple and user friendly for both employer and employee. The Mint Payroll Card fulfills social and economic needs, is a tool for companies and banks to meet the needs of the underbanked, and meets the requirements of Government, Banks, Exchange Houses, Employers and Employees.