C3 Card, the leading provider of prepaid and payroll cards in the UAE, is proud to announce its new partnerships with Carrefour, InterContinental Hotels Group, Emrill, BAM Higgs and Hills, Deniba International Exchange,Al Zari& Al Fardan Exchange, and International Currency Exchange (ICE) who are choosing C3 Card as a secure and efficient financial solution for all their outsourced payroll needs.
These new enterprises stem from C3 Card’s reputation for successful partnerships with leading organizations, including partnering with Commercial Bank International to launch its products and successfully serving HSBC, Mashreq Bank, Noor Islamic Bank, Smart Exchange and Mawarid Finance among others.
C3 Card is endorsed by the Ministry of Labour and is the first authorised agent to go live under the Wage Protection System (WPS), for being in full compliance with standards. TheWPS initiative is setting the benchmark for other regions to follow suit, and C3 Card with its value-added service that has transformed it into the preferred service provider will replicate its success story in these new markets.
AnasZaidan, CEOof C3 Card, commented, “As a testament to our position as a leader, many large corporations have entrusted the welfare of their most precious commodity, their employees, in the hands of C3 Card. By providing a risk and hassle-free electronic payment solution, we are alleviating the concerns of employers and regulative authorities by ensuring asystemised and timelypayroll plan.”
The distinguishing quality of C3 Card is its combined attention to the needs of the employer and card holder. In 2010, over 3.5 million card usage transactions were made, totalling over AED 3 billion; today there are over 350,000 card holders with an expected rise of POS usage by 40% before the end of 2011. Studies are forecasting a 300% growth in the prepaid card segment, with the UAE among the growing contributors to the rate, crediting this rise to increased payroll card solutions in response to the WPS initiative.
Rabih Sfeir, General Manager of C3 Card, commented, “There is significant indication that the main drivers behind payment card growth is the surge of prepaid programs like the C3 cards. This has motivated us to augment our efforts as we continue to introduce innovative solutions for businesses and cardholders alike, to define ourselves as the beacon for its development.”
C3 Card is in preparations to expand to more markets in the region, including Saudi Arabia and Qatar in the near future.