Arab Financial Options (AFS) and Zenj Exchange (ZENJEX) announced that they have signed an agreement to extend AFS’s Wage Protection Scheme (WPS) with a variety of value-added payment services. These services include cash-out transactions from any ZENJEX location as well as quick, secure, and effective international money transfers.
Samer Soliman, Chief Executive Officer, AFS commented, “As the leading digital payment solutions provider and fintech enabler in the Middle East and Africa, AFS’s partnership with ZENJEX is enriching our WPS offering. We are pleased to be extending our WPS services to a larger audience with this partnership with Zenj Exchange. We always partner with strong players in the market to deliver value-added services and attractive, relevant digital payments products that accelerate financial inclusion. I am pleased to partner with Zenj Exchange for this goal.”
The first digital payroll solution in the Kingdom of Bahrain, serving the unbanked population, is AFS’s WPS system. It is a practical and straightforward wage protection solution that enables firms to pay employees’ wages digitally even if they do not have bank accounts.
Fatima Hamad Abul, Zenj Exchange, Managing Director said, ‘With over 40 years of service to the expat community in Bahrain and a keen determination towards digital transformation while leveraging our strong platform and history of service across markets, we are very proud to partner with AFS a leader in payment solutions to expand our offering to include Wage Protection Services (WPS) a strategic national project. We look forward to maximising synergies between the two organisations towards our common goal of product and service excellence. All employers, regardless of staff size, can use the AFS WPS solution. Using a secure web interface that is set up with their own payroll system, the solution enables companies to upload salaries and benefits in a timely manner to payroll cards. Cardholders have access to worldwide money transfers, ATM withdrawals, and local and international Point of Sale (POS) terminal use. Cardholders have access to additional financial services, such as statements, interactive dashboards, round-the-clock customer service, and multilingual customers