London, 28th February – PrePay Solutions (PPS), Europe’s leading prepaid and digital banking services provider, has strengthened its existing presence in the United Arab Emirates (UAE) with the opening of an office in Dubai’s International Financial Centre.
Digital transformation is predicted to boost the UAE’s GDP by almost $14 billion by 2020. PPS is already live with multiple banks in the region, including CBI Bank and RAKBANK. The new office will see PPS further harness this rich market potential by building on its successful digitisation of local payroll programmes for underbanked employees.
In partnership with parent company Edenred, PPS already delivers prepaid card programmes for C3, one of the UAE’s largest payroll programme managers.
Together, the businesses have driven the largest-ever digital migration in the region with RAKBANK, enabling local companies to deliver instant salary transfers to blue-collared workers on the C3 prepaid payroll card. Cardholders can also access digital mobile remittance payments and loans.
Ray Brash, CEO, PrePay Solutions, said: “Strengthening PPS’ presence in the UAE is a significant step in our global expansion strategy. The new office gives us a real foothold in the region, and really consolidates our presence in the market. It allows us to work more closely with our current customers and prospects, enables new strategic partnerships with local businesses, and facilitates PPS’ further digitisation of solutions that add value to our customer’s daily lives.”
The PPS team in Dubai is headed up by Strategic Partnership Director Meharyab Niazi. During his tenures with C3, MCB and Grafdom, Meharyab has amassed over 13 years’ experience in the financial services and IT industries, with a strong background in digital payments, prepaid cards and cross-border remittances.
Meharyab Niazi, Strategic Partnerships Director, said: “PPS has enjoyed an excellent working relationship with our partners in the UAE region, with demonstrably impactful results. The new office in Dubai will take our capabilities to the next level, enabling us to build on our success in delivering innovative prepaid payroll solutions with C3 and RAKBANK, and to further develop our rich suite of products, in conjunction with new technologies and consumer behaviours and demands.”
Meharyab will combine a wealth of local market knowledge with extensive B2B business development expertise to effectively manage existing company relationships and channel and alliance programs, and to actively secure new strategic relationships with local businesses.
PrePay Solutions is a one-stop-shop for prepaid programmes, jointly owned by Edenred, world leader in transactional solutions for companies, employees and merchants, and Mastercard Worldwide, a leading technology company in the global payments industry It is a Mastercard Principal Member and a full e‐money issuer, offering a range of services including processing, BIN sponsorship, eWallet provision, compliance and fraud services, supply chain management, customer services and end to end program design and management.
PrePay Solutions manages ground-breaking prepaid programmes for global brands, including prepaid debit cards, travel money cards, gift cards, corporate cards, insurance cards, rewards cards, loyalty cards, staff cards, promotional cards, saver cards, warranty cards, trade in cards, corporate expense and product specific cards. Prepay Solutions’ programmes operate across multiple media and form factors, including physical, virtual and NFC. It has over 200 client programmes across 26 countries and over 65 million cards under management.
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