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September 25, 2019

More than 1 million unbanked now benefiting from innovative Edenred's C3 payroll solution in the UAE

Around 60 percent of the working population in the UAE is outside the current financial system. Edenred, the fast-growing payroll solutions provider is ready to address the specific needs of these individuals who lack bank accounts, credit cards or loan options.

The innovative C3 solution enables companies to conveniently process salaries of employees through a corporate portal and in turn empower employees by providing them with a card linked to myC3card mobile app.

Currently serving more than 2,000 companies, over 10 banks and 30 financial institutions, the company announced today that it has crossed a major milestone: 1 million holders of the C3 card, powered by RAKBANK.

Edenred also announced the strengthening of the C3 mobile app offering this month by adding a highly affordable Advance against Salary feature powered by RAKBANK. Customers who meet the eligibility criteria can now receive up to 50 percent of their monthly salary and enjoy convenient features such as instant credit and automatic repayment. In 2018, Edenred launched the first digital money transfer service in the UAE, in conjunction with RAKBANK.

We continue to enhance our comprehensive solution with innovative specific value-added services that offer flexibility, reliability and a sense of security that makes a quantifiable difference to the lives of our customers. The addition of the Advance against Salary feature to our C3 mobile app further underscores our commitment to ensuring their financial inclusion and personal growth,” said Anouar Bourakkadi, Chief Operating Officer of Edenred UAE.

 

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