Mint Middle East/Waseela (MME/Waseela), a subsidiary of Canada-based provider of prepaid financial products and services Mint Technology, has signed a money remittance services agreement with Lulu International Exchange to provide international remittance services to its corporate clients employees throughout the UAE.
Lulu International Exchange is a subsidiary of EMKE Group, a diversified business conglomerates in the Arabian Gulf. The EMKE Group is home to a multinational employee profile that includes 20,000 employees across 29 countries.
The agreement allows Lulu to provide FX services globally to payroll cardholders in partnership with MME/Waseela including sales staff on site at Mint’s client locations on pay day to enable cardholders to directly transfer money home through a payout network in India, Bangladesh, Nepal, Pakistan, Philippines, South Africa, Sri Lanka, Europe and USA.
Chris Hogg, president and CEO of Mint Technology, said: “This is an important next step in providing additional financial services to our payroll cardholder base in the Middle East. Money transfer services are utilized by over 80% of our current cardholders through a range of alternative providers until now. We are uniquely placed to provide a cheaper, quicker and more secure service directly to the employees of our corporate client base at their place of work enabling them to send money to their families and friends anywhere in the world through our partner Lulu.”
Mint Technology, a MasterCard member service provider, works with business partners to customize prepaid credit card programs that are tailored to meet a company and its card holder’s needs.