Cash And Trade Magazine For Cash and Trade professionals in the Middle East
Citi has announced that its Global Transaction Services business for EMEA has extended its global platform for Citi Prepaid services by launching its payroll services in the uae for Voltas, part of the Tata group.
Voltas is an engineering project specialist, and has already successfully undertaken and executed multimillion dollar electro-mechanical projects in the Middle east – along with the far east, south east asia, CIS countries, africa and India – and is confident of its ability to develop its projects in the region this year. Citi’s solution for Voltas will provide the issuance of cards regularly loaded with the value of the payroll for each employee at the company’s various project sites.
The service will also 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 labour force, Citi says it is facilitating its objective of
reaching and protecting the unbanked as stipulated in the WPS.
Steve Donovan, Citi’s head of Global Transaction services, Middle East and Pakistan 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 onestop provider of customised services allowing our clients greater flexibility across borders.”
Shaukat Ali Mir, regional director and deputy COO, 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 programme designed to meet an organisation’s objectives, delivering faster, more efficient and convenient payments to employees, customers and third parties.”
