Wage protection System Services
WPS: Wage protection System is a mandatory process through which every organization has to process salaries for their employees. The Wages Protection System (WPS) is a joint initiative between the UAE Government and UAE Central Bank to electronically enable and monitor, that all salaries and wages are paid in a timely fashion.
WPS is an electronic salary transfer system that ensures that UAE employers pay their employees’ wages and salaries through banks, Bureau De Change or other receiving institutions that are authorized by the Central Bank. WPS salary processing is now mandated for any UAE business that employs staff.
Current WPS Options available in the market
Banks are offering WPS services to the customers at a high fee charge. Also they don’t entertain employees with less then AED:2500 salary. They also don’t offer loans to the employees having salaries less then AED:5000.
Exchange houses are cheaper in terms of fees charged for WPS services. But they don’t offer personal loans. They don’t have debit cards so employee has to visit their branch to collect their salaries. Because of small branch network it is a waste of time and money for employee to collect their salaries.
OUR PROPOSED SOLUTION FOR WPS
SMART UNION is direct sales agent for Finance House PJSC. Finance House PJSC is one of the leading financial institution in UAE since 2004, we are best known for good service in the industry , and at this time we take great pride in introducing our product Payday Cards (WPS). we are one of the leading provider of WPS service, offering tailor made solution as per clients requirement.
Features of Product
Payday Plus: Advance salary facility settled on monthly basis.
Payday Extra: Instalment Loan facility that can be repaid in up to 24 monthly instalments.