PRODUCT OVERVIEW

Al Bader Exchange offers a comprehensive Wages Protection System (WPS) payroll solution that ensures full compliance with the WPS regulations implemented by the Ministry of Human Resources & Emiratization in coordination with the Central Bank of the UAE.

• Our payroll solution supports both corporate clients and domestic workers through a dedicated platform powered by Aspire Gulf Information Technology and a recognized card scheme: Al Bader Pay+

This Key Facts Statement provides essential information regarding features, applicable fees, and service conditions.

Product Overview: Al Bader Pay+ WPS Payroll Solution

FEE STRUCTURE – WPS PROCESSING

YEARLY BUNDLE PACKAGE

Note:

• The yearly SIF charge covers a maximum of 12 SIFs (1 SIF per month).
• Additional SIF within a month will be charged an extra AED 25 per SIF.

Al Bader Pay+ Card Fees and Service Charges

Note:

• 5% VAT will be applied to all applicable charges
• All charges are payable by the employer, except for card replacement due to loss, theft, or damage, PIN reset, and personal salary statement requests, which are charged to the employee

IMPORTANT WARNINGS

• If salary is transferred to the employee’s personal bank account, additional charges may be applied by the receiving (beneficiary) Bank.
• Cardholders must ensure the confidentiality of their PIN and other security details. Any unauthorized access resulting from negligence will be the sole responsibility of the cardholder
• Al Bader Exchange reserves the unilateral right to terminate or suspend access to their services for customers who violate any provision of these terms and conditions and engage in fraudulent or suspicious activities
• Payroll processing may be prohibited, delayed, held, fund frozen or cancelled due to regulatory or compliance checks.
• In accordance with Consumer Protection Standards, a five (5) business-day Cooling-Off period applies to all transactions under the Wage Protection System (WPS) offered by Al Bader Exchange. Notwithstanding this, where immediate execution of a WPS transaction is required, the customer (Employer) may choose to waive the Cooling-Off period. By providing written acknowledgment and consent to this waiver, the customer authorizes Al Bader Exchange to proceed with the immediate processing and disbursement of wages.
• Al Bader Exchange shall be responsible for safeguarding consumers’ data and ensuring its confidentiality, whether held internally or with a third party. Data will only be disclosed to authorize, facilitate, administer, or process applications/transactions, or to respond to inquiries from relevant law enforcement authorities, both within and outside the UAE. In the event of any data breach, customers will be promptly notified through our official communication channels.
• Al Bader Exchange, as a Licensed Financial Institution, will provide Consumers with a minimum of sixty (60) calendar days’ notice prior to implementing any permissible changes to the terms and conditions of a Financial Product and/or Service, as well as any changes to applicable Fees.