Payroll Processing with UAE Exchange

How payments are made through UAE Exchange partnership

Yohann Allen avatar
Written by Yohann Allen
Updated over a week ago

Payroll processing on Bayzat Benefits allows you to pay your employees via UAE Exchange, whether you are an onshore company required to process payroll through WPS or a freezone entity.

The partnership between UAE Exchange and Bayzat allows any of our customers, who are not existing UAE Exchange customers, to process salary payments directly from the platform at no cost for a 12 month contract period.

How are salaries paid out via UAE Exchange?

  • Banked Employees: salaries are deposited directly into employee's bank account upon providing individual IBAN numbers 

  • Unbanked Employees: UAE Exchange provides Smart Pay cards, which is integrated with the Mastercard network and as a result, employees can withdraw their salary using any one of the following channels:

 - Any ATM that accepts MasterCard
 - UAE Exchange-branded cash machines
 - Any UAE Exchange branche (150+ branches across the UAE)

How does the payroll process work on Bayzat Benefits?

Step 1: Register with UAE Exchange. Click here to learn more about initial registration
Step 2: Prepare and close payroll on Bayzat Benefits
Step 4: Transfer funds to UAE Exchange WPS Funding Account. Click here to learn more about the different payment methods available.
Step 5: Upon receiving the full amount, UAE Exchange will disperse salaries to individual employees
Step 8: Generate Payslips on Bayzat Benefits as needed

Watch this video for a quick process flow.

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