Network International ties deal with Al Fardan Exchange to offer prepaid cardholders more convenience

Published September 15th, 2010 - 10:26 GMT

Network International, the preferred card solutions provider and the largest acquirer in the region, and Al Fardan Exchange, a renowned remittance house in the UAE, have entered into an agreement through which Network International will provide complete connectivity with Al Fardan Exchange's flagship product- Emoney. The agreement includes connectivity for a 'Transaction Set' comprising of cash withdrawal, balance enquiry, remittance and a host of other services for Emoney prepaid salary cards, and will make Al Fardan the first Exchange house to offer remittance services through ATM network of ENBD.

There are over 269,100 companies under the new Wage Payment System (WPS) regulation employing over 4 million employees in the UAE. Many of them see prepaid payroll cards as the perfect replacement for the paper checks now used to pay workers as they provide an easier and smoother payroll process system as well as catering to unbanked employees. The prepaid cards also present blue-collar workers with a much more convenient payment mechanism, allowing them to manage their finances in a variety of ways as well as improving security.

With this agreement Network International will provide Al Fardan Exchange with a host of services, including complete screen development and integration with the Al Fardan's existing Switch platform. The screens will function when an Al Fardan Card is used on Emirates NBD (ENBD) ATMs across the country, allowing Emoney card holders to access their familiar screens and options at over 650 locations. Emoney cardholders can also use the ATM network to remit money to over 110 correspondent banks worldwide.

Network International will also provide monthly maintenance of the connectivity platform to minimize downtime, including connectivity audits and technical support. The service will offer consumers a convenient and cost-effective way to complete their transactions.

"Network International is recognized and trusted for its unsurpassed card payment solutions infrastructure. Al Fardan Exchange has proven to be the favoured choice for remittance services for consumers in the UAE over the past 3 decades. This alliance is no doubt a further testament to the exponential added-value offered to the large customer base of Al Fardan Exchange." Said Ram Chari, CEO of Network International.

Osama Al Rahma, General Manager of Al Fardan Exchange said, "Al Fardan Exchange has been providing EWPS operations to thousands of workers in renowned companies in the UAE with great success. We are committed to provide services that deliver real value to our customers, and we consider it a great privilege to help corporates across the UAE to disburse salaries as per the convenience of their employees. Employees on the other hand are enjoying the simplicity and convenience of withdrawing their salaries through their personalized Emoney card with an option to transfer funds directly using POS terminals deployed in Al Fardan Exchange branches, labor camps and now through ENBD's extensive ATM network across UAE."

Network International has been a pioneer in the area of Card Issuing, Merchant Acquiring and Card Payment Processing. This agreement will allow Network International to reconcile and settle transactions done on onus (ENBD) ATM terminals and perform MIS and turnover standard reporting. The partnership represents a new era of convenience to the residents of the UAE. 

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