Ajman Bank, a leading Shariah-compliant bank, has joined forces with fintech innovator MENSA Technologies to revolutionize the Wage Protection System (WPS) in the UAE.
This partnership introduces a next-generation digital payroll solution, combining Ajman Bank’s regulatory expertise with MENSA’s cutting-edge technology to ensure secure, inclusive, and compliant salary disbursements for businesses and employees.
Quick Summary
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Ajman Bank × MENSA Technologies (MensaPay).
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Strategic alliance to enhance UAE’s Wage Protection System (WPS).
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Improve payroll efficiency, financial inclusion, and regulatory compliance.
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Unbanked/underbanked workers gain access to digital WPS cards & wallets.
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“This partnership reflects our focus on innovation to support national priorities.” — Mustafa Al Khalfawi, CEO of Ajman Bank.
Background
Transforming Payroll in the UAE
The Wage Protection System (WPS) is a UAE mandate ensuring timely salary payments. However, reliance on cash transactions and limited banking access for low-income workers has been a challenge. This partnership merges:
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Ajman Bank’s Shariah-compliant banking infrastructure.
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MENSA Technologies’ fintech solutions (MensaPay) for seamless digital payroll.
The Solution
Next-Gen WPS Cards & Digital Wallets
The collaboration introduces
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WPS Cards
Secure, regulated salary disbursement for all employees, including unbanked workers.
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Compliance
Fully aligns with UAE Central Bank regulations.
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Financial Inclusion
Workers without traditional bank accounts can now access digital wages.
Impact
Why This Matters
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For Employers
Streamlined payroll, reduced cash handling, and guaranteed compliance.
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For Employees
Secure, instant wage access via digital wallets—no bank account needed.
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For UAE’s Economy
Supports cashless initiatives and workforce empowerment.
Expert Opinions
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Mustafa Al Khalfawi (Ajman Bank CEO)
“This partnership embeds innovation into banking to enhance economic resilience.” -
Dr. Mengsha Tan (Mensha Group Chairwoman)
“We’re advancing financial inclusion with tools workers truly deserve.” -
Muhammad Ashraf (MensaPay CEO)
“Our tech ensures a compliant, user-friendly solution for a cashless UAE.”
FAQs
Q: How does this WPS upgrade benefit workers?
A: Employees—even without bank accounts—receive salaries digitally via WPS cards/wallets, reducing cash dependency.
Q: Is this solution mandatory for businesses?
A: No, but it simplifies WPS compliance and payroll efficiency for employers.
Q: What’s next for this partnership?
A: Scaling the solution across the UAE and potentially other GCC markets.
Final Thoughts
This Ajman Bank-MENSA Technologies alliance marks a leap forward in financial inclusion and regulatory-tech synergy. As the UAE pushes for a cashless economy, such innovations ensure no worker is left behind.
