Hadi Express Exchange is an authorised and licensed exchange house in the UAE by the Central Bank of the UAE to process WPS and provide WPS auxiliary services to companies registered in the UAE. Our WPS solution, branded as Ezeepay , is a comprehensive development solution which was implemented adhering to the directives of the UAE’s Ministry of Labour under the Wages Protection System (WPS) initiative in 2009.
The Wages Protection System & Payroll is an electronic salary transfer system that allows institutions to pay employee salaries via banks, exchange houses, and other registered service providers that are approved and authorised by the Ministry of Labor and the Central Bank of the UAE. Under the Ezeepay payroll solution, Hadi Express Exchange issues two types of cards for salary payments the employers can opt as per your requirement.
It is a closed-loop card for WPS customers where salaries can be processed via these cards and can be withdrawn from any of the Hadi Express Exchange branches. A customised solution for our esteemed patrons who are located near to our branches.
Hadi Express Exchange introduced the open loop card variant with a mission to provide corporate customers and large firms an alternative to Payroll Cheques or direct deposits. As this is an open-loop master card variant, geographical barriers between the cardholders will never be a hindrance. Users can access services across the world using the Master Card network. Cardholders will benefit big time as they will be freed from the cumbersome procedure of carrying cash, thereby providing them with financial security.
Once you get your company registered with Hadi Express Exchange WPS, i.e., Ezeepay, you may add all your employees to the payroll system and start processing salaries.
Hadi Express Exchange accepts cash, cheque, and online credit payments from the company in order to process the salary.
The salary can be processed via Ezeepay cards or bank accounts as per the convenience of the employees. It can be tailored with the same company WPS having multiple variant cards and bank accounts.
Employee Documents: Emirates ID of all employees-copy, Ezee Pay Card enrolment form, if applicable, bank account details (Welcome letter/Cheque leaf/statement) which mentions the name and IBAN – Copy Firm / Company – Employer Documents: Trade License of the Establishment/firm - Copy, Computer Labour Card / Establishment Card - Copy, Memorandum of Association and LLC Agreement, if applicable, List and Passport copies of the Directors/Proprietor/Partners/Authorized Signatories., Valid ID's of the Authorized Signatories., Registration form completed, Undertaking for Compliance and Due Diligence by authorized signatory. (Attached), updated employee list.
Yes, there are penalties for not using the WPS system. Defaulting companies will be disqualified from getting new work permits and renewals of existing visas.
Yes, WPS is mandatory as per the Ministerial Decree (No.788) of 2009 on Protection of Wages by the UAE Ministry of Labour.
The employer is at liberty and can choose any authorized WPS agent like exchange houses, banks, etc., approved by the Central Bank of the UAE and the Ministry of Labour, to avail of the WPS facility for the salary payments.
Employers can walk into any of the Hadi Express Exchange branches with the following documents: 1) WPS Agreement (Available in downloads) 2) Valid Trade license of company 3) List of employees 4) Passport and Emirates ID of the Owner / Manager / Partner 5) Power of Attorney of the signatory 6) Emirates ID of all employees and register for WPS compliance and Ezee Pay payroll services.
We are also one of the pioneers to begin processing in response to the CBUAE guidelines to process salary via WPS. The Wage Protection System we implemented in the year 2009, and we are now devising strategies to develop products and services in the WPS diaspora with an edge of differentiation to break the clutter and emerge as the most customer-centric money exchange in the United Arab Emirates.
