The global transaction services business of Citi for Europe, the Middle East and Africa (EMEA) has launched payroll services for Voltas Limited in the UAE. The service will provide issuance of cards regularly loaded with the value of the payroll for each employee at various project sites of the company.
The service will enable an automated and employee friendly payroll process that complies with the wages protection system (WPS) regulations in the UAE. By partnering with corporate clients with a large migrant labor force, Citi is facilitating the important objective of reaching and protecting the unbanked as stipulated in the WPS.
Steve Donovan, head of global transaction services for Europe, the Middle East and Africa, Citi, said: “Citi has paved the way in the Prepaid space by continuing to launch these state of the art products across the globe. As a pioneering tool and delivery platform, it is the premier choice for companies initiating payroll, consumer rewards, sales incentives and government benefits.
“This further expansion into the Middle East, a region that Citi has had a committed presence in for over 50 years, further underscores our commitment to our clients in the region and our vision to be a one-stop provider of customized services allowing our clients greater flexibility across borders.”
Shaukat Ali Mir, regional director and deputy COO of Voltas, said: “Citi was able to offer our group innovative and flexible solutions that matched the needs of our company. The innovative platform offered by Citi Prepaid Services delivers a flexible program designed to meet an organizations objectives, delivering faster, more efficient and convenient payments to employees, customers and third parties.”
