Fri28072017

Last update25/07/2016

exchange-rates



Smartpay (25)

Is salary payment a nightmare for you every month? While it is interesting and exciting to watch the business grow, when the number of employees grows with it, payroll management becomes a daunting task. Tedious paperwork, errors and backlogs haunt you out of peace. As you struggle on your way through, your employees may suffer with inconsistent and erroneous salary payment. So the situation is definitely not an advisable one for both parties.

As United Arab Emirates (UAE), in the past 30 years, witnessed great development on the economic front, many businesses mushroomed and employee base increased phenomenally. With the increase in manpower, authorities felt the need to streamline salary disbursal process which will reduce inconvenience to both employers and employees.

Towards this the UAE Ministry of Labour and UAE Central Bank together came up with a unique solution called Wage Protection System (WPS). This award-winning initiative was equipped to streamline salary disbursal issues. As per the Government’s vision it was mandatory for all corporate entities to be registered under WPS and to comply with its regulations, which protected the interests of both employees and employers.

For more information log on to http://www.smartpaysolutions.com/

> 10 corporate entities win Best Smart Pay Employer Award under Smart Pay Appreciation Programme > Awards ceremony held in Al Bustan Rotana Hotel, Near Dubai Airport, Dubai

"We salute UAE Government's vision for the welfare of the employees in the UAE by implementing Wages Protection System (WPS). And we appreciate the companies' commitment to support this great vision by partnering with Smart Pay.", observed Mr. Y. Sudhir Kumar Shetty, COO - Global Operations, UAE Exchange, on the occasion of the awards ceremony of Smart Pay Appreciation Programme.

UAE Exchange recognised top 10 corporate entities, who partnered with the leading payroll solution, Smart Pay, to address their salary disbursal requirements. This unique partnership helped the entities in complying with WPS, an initiative from the UAE Ministry of Labour and the UAE Central Bank. Smart Pay has been a trusted channel for over tens of thousands of corporate entities, which supported the Government's vision of streamlining the salary disbursal process.

Mr. Shetty further added, "We take this opportunity to thank the Ministry of Labour and the Central Bank for the encouragement and guidance extended to the corporate world and its employees. Apart from that UAE Exchange Smart Pay's path to excellence under their invaluable guidance has been a great learning experience in itself. Today Smart Pay is a leading name in the market, thanks to our partnership with tens of thousands of corporate entities.This award is a token of appreciation to our excellently performing partners in 2010."

The leading payroll solution offers its partnering employers confidentiality, security, technologically advanced processes, easy disbursal at UAE Exchange branches and labour camps, professional relationship management etc., cost effectively.

For the employees of these entities, Smart Pay offers convenient, secure and timely salary pick up facility at any of the widely networked UAE Exchange branches in the UAE. To enhance their convenience, UAE Exchange, in association with MasterCard, has introduced the Smart Pay-MasterCard electronic payroll cards. These cards empower them to withdraw salary through any MasterCard enabled ATM and to shop by swiping it on Point of Sale (POS) machines at MasterCard approved merchant locations. The employees can also withdraw money from UAE Exchange's Cash Dispensing Machines (CDM) installed across all Emirates.
Smart Pay is one of the many successful proprietary products offered by UAE Exchange.

The other products from the leading global remittance and foreign exchange brand include Xpress Money, the leading global instant money transfer brand; Money2anywhere, the online money transfer portal; Flash, the product that facilitates real time account credit; and XPay, the easy payment facility through mobile phone. Apart from these products

UAE Exchange also offers quality service through its strong global network of more than 500 direct offices spanning 23 countries across five continents. Its correspondent relationship with over 150 global banks strengthens the network.

Mr. Ibraheem Alammari, Director of Wages Protection Office along with other top officials from Ministry of Labour, graced this special occasion to encourage the performers to achieve excellence, while aligning with the Government's vision. The awards function, held at Al Bustan Rotana Hotel, Near Dubai Airport, Dubai, was attended by top officials of UAE Exchange, dignitaries and special invitees.

For more information log on to http://www.smartpaysolutions.com/

Smart Pay Overview

Tuesday, 30 August 2011

Smart Pay is a corporate payroll solution launched in the UAE market by UAE Exchange to improve the salary disbursal process, in compliance with the directives of UAE Ministry of Labour and Wages Protection System (WPS). The innovative product infuses greater reliability to payroll management and has been a huge success in the UAE.


[youtube=http://www.youtube.com/watch?v=tQFQfJ8yb9s]

Smart Pay aims at empowering workers, through organized salary payments. It currently caters to thousands of workers across UAE especially those engaged in the labour-based sector like construction industry. Smart Pay has been successful because it benefits both the employer and the employee. With Smart Pay, the employer saves on time, money and paperwork during the monthly salary disbursal. In addition, the employer does not have to worry about the logistics management.

Meanwhile, the employee has access to many salary distribution points through
UAE Exchange branches facilitating easy salary withdrawal without any service charges being levied on them. Specially trained multi-lingual staff helps in disbursal of salaries at camp sites. The employees also have the option of sending their money back home after collecting their salaries. Our customers thus benefit from timely, secure, and convenient salary disbursal through the wide-network of UAE Exchange branches spread across UAE.

Smart Pay Advantages

Thursday, 01 September 2011

Benefit to Employers:
- Complies with Wages Protection System (WPS) of the UAE Ministry of Labour and the UAE Central Bank
- Highly flexible Payroll processing module
- Technologically advanced and faster process with high level of confidentiality and security
- No account reconciliation for payrolls
- Refunds and reprocessing of unclaimed salaries made easy
- Offer virtual accounts for employees
- Principal membership with MasterCard for payroll solutions
- Professional Relationship Management and assistance of Relationship Officers
- Flexibility of adding new employees in the payroll with minimum hassles
- Cost-effective

Benefit to the Employee:
- Unmatched network of payout points & easily accessible UAE Exchange branches
- Salary loaded to employees’ electronic payroll cards
- Zero balance and partial salary withdrawal facility
- Withdraw using MasterCard enabled payroll cards at MasterCard ATMs
- Shop by swiping on POS machines at MasterCard approved merchant locations
- Withdrawal using UAE Exchange Cash Dispensing Machines which support eight languages
- No account maintenance fees and withdrawal fees at UAE Exchange pay points
- Prompt monthly cash payment at camps
- Insurance coverage for the salary up to the point of disbursal
- Onsite remittance facility
- Customer service centre with multi-lingual support staff

> Smart Pay, from UAE Exchange, has over 20,000 corporate clients

"Right decisions are always smart decisions," said Mr. Y. Sudhir Kumar Shetty, COO - Global Operations, UAE Exchange. "Our popular payroll solution, Smart Pay is instrumental in helping companies in taking the right decision by partnering with us for their salary disbursal requirements, thus aligning with the Government's vision. Today with over 20,000 companies as corporate customers, Smart Pay has emerged into an industry leader."

Smart Pay, the leading payroll solution from UAE Exchange, enables companies to comply with the Wages Protection System (WPS), an initiative from the UAE Ministry of Labour and UAE Central Bank. WPS streamlines the salary disbursal process and protects the interests of both employers and employees.

Smart Pay reduces the payroll management hassles for companies on one end and empowers the employee class with convenience of receiving error-free monthly income, on the other. Employees can collect their salaries from any of the widely networked branches of UAE Exchange. Smart Pay's onsite disbursal team also delivers salaries at the employees' accommodation.

Taking the convenience of the employees to the next level, UAE Exchange joined hands with MasterCard to come up with Smart Pay-MasterCard electronic payroll card. The employees of corporate entities can use this card to withdraw salary from any MasterCard enabled ATM or swipe it on POS machines at MasterCard approved merchant locations to settle their purchase bills. They can also use it at UAE Exchange proprietary Cash Dispensing Machines (CDM) to withdraw cash.

Smart Pay is one of the many quality products from UAE Exchange, which is home for Xpress Money, the leading global instant money transfer brand; Money2anywhere, the online money transfer portal; and Flash, the product for real time account credit; It also offers allied products like credit card bill settlement, air ticket fare settlement, National Bonds / Mashreq Millionaire Certificates etc. UAE Exchange has more than 535 direct offices in 24 countries catering to over 3.5 million customers and contributing 5.28% of the global remittance volume.


For more information log on to http://www.smartpaysolutions.com/

Smart Pay is an industry — leading state-of-the-art payroll solution from UAE Exchange complying with the directives of the UAE Wages Protection System (WPS) initiated jointly by Ministry of Labour (MOL) and UAE Central Bank to streamline the salary disbursal process in the UAE. Smart Pay further contributed in improving the salary disbursal system adopted by registered corporate entities.

As per the UAE Central Bank, WPS statistics for 2010, Smart Pay is the market leader among exchange houses in terms of the volume of salary disbursals. Increasing popularity of Smart Pay is due to its inbuilt features, which benefits both the employer and the employee. Through Smart Pay, the employees benefit from convenient, secure and timely salary pick up at the widely networked UAE Exchange branches, at camp locations and also though Cash Dispensing Machines (CDMs) at multiple locations.

Benefits of Smart Pay:

To Employers:
> Complies with Wages Protection System (WPS) of the UAE Ministry of Labour and the UAE Central Bank
> Highly flexible Payroll processing module
> Technologically advanced and faster process with high level of confidentiality and security
> No account reconciliation for payrolls
> Refunds and reprocessing of unclaimed salaries made easy
> Offer virtual accounts for employees
> Principal membership with MasterCard for payroll solutions
> Professional Relationship Management and assistance of Relationship Officers
> Flexibility of adding new employees in the payroll with minimum hassles
> Cost-effective
To Employees:

> Unmatched network of payout points & easily accessible UAE Exchange branches
> Salary loaded to employees’ electronic payroll cards
> Zero balance and partial salary withdrawal facility
> Withdraw using MasterCard enabled payroll cards at MasterCard ATMs
> Shop by swiping on POS machines at MasterCard approved merchant locations
> Withdrawal using UAE Exchange Cash Dispensing Machines which support eight languages
> No account maintenance fees and withdrawal fees at UAE Exchange pay points
> Prompt monthly cash payment at camps
> Insurance coverage for the salary up to the point of disbursal
> Onsite remittance facility > Customer service centre with multi-lingual support staff

Feature-Pack your Salaries

Tuesday, 22 November 2011

> Approved and authorized by the UAE Ministry of Labour and Wages Protection System (WPS)

> Specially trained multi-lingual staff for disbursal at camp sites

> Provision of site remittance facility for employees

> Micro-loan facility for employees

> Highly flexible Payroll processing module

> Less paper work and minimum documentation procedures

> Flexibility of adding new employees in the payroll with minimum hassles

> Highly secured disbursal process

> Insurance coverage for the workers’ salary up to the point of disbursal

> Monthly and Quarterly salary reports in English and Arabic

> Fast and convenient account reconciliation

> Signed Smart Pay vouchers are stored for 10 years

> Smart assistance of expert Relationship Officers

> Employees’ remittance needs are fulfilled along with the disbursal of salaries

> Door-to-door service for the enterprise’s corporate Swift transfers, purchase and sale of foreign currency, traveler’s cheque For more information, log on to: www.smartpay.ae

Smart Pay, a pioneer in payroll solutions in the UAE, is a service that comes from a brand that has stood for high quality and excellent service; a brand which people turn to with trust to address their various financial requirements; a brand called UAE Exchange.

UAE Exchange is the leading global remittance and foreign exchange brand with a strong global network close to 600 direct offices in 30 countries across five continents. This network, which is the largest in its class, reaches out to more than 3.5 million customers and their dear ones, worldwide. Further adding to its might is the strong correspondent banking relationship with over 150 global banks.

People trust UAE Exchange, which has always adopted a customer-centric approach for over 30 years and the results have been astounding. Towards customers’ convenience, UAE Exchange has brought forward various innovative products including Xpress Money, the leading global instant money transfer service; Money2anywhere, the online money transfer portal; XPay, an advanced mobile bill payment service; and FLASHremit, the facility for real time account credit. Apart from these, UAE Exchange offers a wide range of services, under one roof, which address most of the financial requirements of the customers, who consider UAE Exchange as a financial supermarket.

With such an impressive lineage, one can be assured of the same quality of service with the same technological competence from Smart Pay too. It is an adept appendage to the wide range of services from UAE Exchange.


For more information visit, www.smartpaysolutions.com

What is Smart Pay

Friday, 13 April 2012

Certainly, along with the accomplishment of an increasing business and enhanced productivity, a growing employee headcount may lead to a complicated payroll process. Wouldn’t it be remarkable if the entire process of salary payments was easier and error-free? Smart Pay, the leading payroll solution provider among remittance brands, with highest market share in terms of salary disbursals, offers all this and more.

Smart Pay

Smart Pay was created with the intention of empowering the corporate entities and their employees. Smart Pay complies with the Wages Protection System (WPS), an initiative of the UAE Ministry of Labour and UAE Central Bank to streamline the salary disbursal process, protecting the interests of both employers and employees.

Thanks to the customer-centric approach and quality-oriented work culture, Smart Pay today partners tens of thousands of corporate entities. It is providing much relief to the payroll managers of these entities by providing and hassle-free salary disbursal process and utmost convenience to the employees by delivering them their salaries, on time.

Benefits to Employer:
- Approved and authorised by the UAE Ministry of Labour under Wages Protection System (WPS)
- Product design and process as per the WPS mandate
- Built-in technology ensuring 100% confidentiality and data security
- WPS compliance/Fund transfer at all UAE Exchange branches.
- Principal membership with MasterCard for payroll solutions
- Minimal documentation procedures
- Quick, efficient and secure disbursal of salaries to large number of employees
- Professional Relationship Management and assistance of Relationship Officers
- Flexibility of adding new employees in the payroll easily
- Automated SMS/Mail communication on salary release to payroll managers
- Online portal for reports
- Deposit funds at any UAE Exchange branch in the UAE

Benefits to Employees: - Easy salary collection from any UAE Exchange branch in the UAE
- Withdrawal using MasterCard-powered payroll card from any MasterCard ATM, worldwide
- Shop by swiping on POS machines at any MasterCard-approved merchant location
- Discounted rates for purchasing at partners’ outlets as part of the loyalty programme
- UAE Exchange Cash Dispensing Machine (CDM) with multi-lingual support
- Zero balance and partial salary withdrawal facility
- No account maintenance fees and withdrawal fees at UAE Exchange CDMs
- Onsite or on-camp remittance facility
- Insurance coverage for the salary up to the point of disbursal
- Customer service centre with multi-lingual support staff


For more information visit, www.smartpaysolutions.com

- 16 clients awarded for excellence
- More categories introduced
- Smart Pay website launched

“Excellence gets recognised, especially when it has a welfare angle to it.”, said Mr. Y. Sudhir Kumar Shetty, COO — Global Operations, UAE Exchange. He was speaking on the awards ceremony of Smart Pay Appreciation Programme 2011, held on 11th April, 2012 at Madinat Jumeirah, Dubai. The programme is aimed at awarding corporate entities, which work towards achieving excellence, while aligning with the UAE Government’s vision for employee welfare. The programme is an initiative from Smart Pay, the WPS-compliant leading payroll solution from UAE Exchange.

UAE Exchange conducts Smart Pay Appreciation Programme 2011

“Congratulations to all awardees! It gives immense happiness to us to see such passion for excellence. We take pride in our relationship with our corporate clients, who share our vision to achieve excellence in every sphere, while ensuring the welfare of their employees. This award programme is a token of our appreciation for the committed efforts of our partners towards excellence, while aligning their objectives with the Government’s vision.”, Mr. Shetty added.

Smart Pay initiated the Smart Pay Appreciation Programme in 2010. The first edition, held in 2011, recognised the top 10 achievers with the ‘Best Smart Employer Award’. The committed efforts of the clients, clubbed with their penchant for quality of processes and welfare of their employees, has inspired Smart Pay to add more categories to its repertoire of awards. The result was introduction of ‘Best Free Zone Star Award’ and ‘Relationship Excellence Award’ in 2012.

The award winning corporate entities include IFFCO-Group, Cars Taxi Services Co. LLC, Emirates Technical & Thermal Systems Co. LLC, Laing O’Rourke Middle East, Larsen & Toubro Limited — ECC Construction Group, Al Ryum Group, Extraco Group, Al Arif Contracting Co. LLC and Al Arif Group, Eastern International LLC (Bukhatir Group) and NCC Group of companies under ‘Best Smart Pay Employer’ category; RAK Ceramics P.S.C., Lamprell Energy Ltd. and Inter Ocean Ship Repair Group of Companies under ‘Best Free Zone Star’ category; NICO International, Emirate Techno Casting FZE and Dolphin Group of Companies under ‘Relationship Excellence’ category.

The event also witnessed the launch of the new online customer-centric Smart Pay portal, which enables Smart Pay’s corporate clients to view various Smart Pay payroll reports, online, and know the status of their payroll, with just few clicks. The function also saw more value coming in with the launch of the revamped Smart Pay website, which has now become sleeker and more interactive. These two new introductions, this year, will bring more convenience to Smart Pay clients, right at their desktops.

Smart Pay, the WPS-compliant industry-leading payroll solution, is an initiative of UAE Exchange, the leading global remittance and foreign exchange brand. Started in 2006, Smart Pay has today emerged into a leader in the segment. As per 2011 WPS statistics, Smart Pay is the No.1 in terms of salary disbursals among exchange houses.

Smart Pay offers quality payroll solutions to tens of thousands of corporate entities and their employees. It not only helps the clients with easy salary disbursals, but also with compliance to Wages Protection System (WPS), an award-winning initiative from UAE Ministry of Labour and UAE Central Bank.

Taking its value addition to a new level, Smart Pay reduced the turnaround time for salary processing to two hours. Now employees of the corporate entities can collect their salaries, within two hours from the time of deposit of funds, from any UAE Exchange branch, across the UAE.

Smart Pay also offers an electronic payroll card, powered by MasterCard, to the employees of its clients. This card enables the employees to withdraw salary from any MasterCard ATM, worldwide; shop at MasterCard-approved merchant locations; withdraw from UAE Exchange Cash Dispensing Machines (CDM); and avail exciting discounts from various loyalty partners. This is apart from the camp site salary disbursal and remittance services offered for the convenience of the employees.

This law-abiding passion to excellence has made Smart Pay a favourite of corporate entities, their employees and the compliance authorities. The appreciation progamme is an extension of this passion.

The function, conducted amidst much fanfare, was graced by dignitaries from the Ministry of Labour, Smart Pay’s corporate clients, senior officials of UAE Exchange and special invitees.


For more information visit, www.smartpaysolutions.com

Page 1 of 2