Dubai, United Arab Emirates, October 19, 2011 --(PR.com
)-- An interview with Anas Zaidan, CEO of C3 Card and Rabih Sfeir, its GM revealed the new initiative and the value of C3 Card offered to Wages Protection System in United Arab Emirates.
1. Tell us about C3 Card and your enrollment to Wages Payment System "WPS".
Anas: "C3 Card initiated the operations in UAE in 2007, investing heavily on its systems and infrastructure, with an aim to become a leader in the prepaid card market in UAE and the region. In 2008, C3 Card launched its Payroll Card and successfully managed to gain the trust of major companies in the UAE who adapted it as the mean of payment for their employees.
"When WPS was initiated, C3 Card’s payroll system was already aligned with WPS requirement and after successfully testing the system, we were recognized as the first authorized service provider under the new WPS law.
"C3 Card acts like a service provider to several financial institutes providing them a comprehensive solution for their clients.
"Today C3 Card is servicing more than 4000 Companies representing a portfolio of above 350,000 employees."
2. How will this new initiative of WPS impact the Free Zones
Anas: "This is a much awaited move, we knew that this will come as UAE government is keen to improve quality of services and security of every individual in the country regardless of which category/industry or sector he works for. Implementing this on Free zones will ensure that all sectors are covered under electronic payments and employees have a convenience of accounts/saving instead of cash."
3. What is the secret of C3 Card’s success story?
Rabih: "C3 Card believes in investing in systems, procedures and its own team to deliver quality products and services. We did extensive work to understand the market requirements, the companies and their employees’ needs.
"We decided to launch the Payroll Card as our first innovative program. In fact, our pioneer clients were few of the largest companies in UAE who understood the convenience of C3 payroll card before the implementation of WPS.
"Our capabilities are beyond the product offering, it is our flexibility to serve both companies and employees wherever they are based; As well, shifting large base of employees within days to C3 payroll card without any hassle for companies is our testimonial.
"C3 Card is proud that it created standards that others are aiming to implement."
4. What are the features of C3 payroll card and how it is different with normal bank accounts?
Rabih: "C3 payroll card is a virtual debit card issued by CBI bank along with MasterCard. They are similar to a debit card except that they don't require a checking account.
"Cards can be used on any ATM machine or at any POS machine for direct purchases in UAE or worldwide. C3 Card brings tailor made solution for companies after understanding their needs, apart from its customer support in different languages or payroll at remote site or dedicated camp."
5. Does the employee get charged for using it on POS/ATM?
Rabih: "There is no charge to the employee to withdraw his salary. C3 Card provides multiple options for companies so that the employee gets a free transaction to access his salary.
"For purchases at any place accepting payment cards, no fee is applicable. The employee account is debited for the amount of purchased goods or services."
6. What other card activities you are involved in?
Rabih: "C3 Card is to introduce multiple prepaid products to UAE and the region. The Payroll card was the first one to be launched, but soon we will be introducing different stored-value card programs according to our clients needs."
7. How do you see the Prepaid future in UAE?
Anas: "UAE is one of the emerging markets for prepaid cards in the region; if we look at the statistics 2-3 years back, we see a real growth in the prepaid market. We found a high awareness of benefits and usage of the prepaid in consumers of UAE. The pre-launch survey shows that a real demand is there for using prepaid products for their different needs."
8. Looking into Expansion? If yes, then which countries?
Rabih: "C3 Card success model and flexibility make us a partner of choice in any market. We have been approached by many Middle Eastern and African countries; C3 Card is finalizing its expansion in Qatar, Saudi Arabia and recently working on selected African markets."