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Qatari company QPAY, which offers electronic payment solutions for banks, and MasterCard, have partnered to introduce Qatar’s first Wage Protection System (WPS) salary card platform which complies with the Qatar Central Bank WPS payment regulations regarding low-income labourers in Qatar.
QPAY claims to have brought to the market the lowest cost and most advanced WPS IBAN platform in the GCC region. “We have chosen MasterCard as our partner, thanks to its global market reach, and because it offers us the ability to design a local Qatari product that promotes labourer financial inclusion in Qatar as well as their home country,” said Nebil Ben Aissa, CEO and founder, QPAY International.
“The QPAY platform, in partnership with MasterCard, customised to multiple banks, financial institutions enables corporates of various sizes to comply with the latest QCB WPS requirements, as well as the QMLSS Salary Information File generation. We attacked a very complex problem, and delivered the lowest cost, most advanced WPS IBAN solution in Qatar and GCC; and we thank MasterCard for their trust and confidence in being a key ingredient in our platform.”
Raghav Prasad, general manager for Gulf Countries, MasterCard said: “From labourers to large corporations, MasterCard and QPAY have tailored the platform to suit different needs and provide workers in Qatar safe and simple salary payments. We are proud to be a part of this programme and realising our vision of promoting a world beyond cash.”
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