LuLu Exchange partners with Mercury to launch digital native payroll card

By Leandra Monteiro

LuLu Exchange, a cross-border payments provider, has rolled out the country’s first digital native WPS payroll solution in partnership with Mercury, UAE’s domestic payment network.

Talking about the partnership, Adeeb Ahamed, MD of LuLu Financial Group, said, “The LuLu Money Salary Card is a result of our ambition to roll out a proprietary WPS card that enables seamless money transfer and digital account management. We are happy to partner with Mercury to bring this innovative card to our customers, in line with the UAE’s regulations. We believe this will go a long way towards achieving greater financial inclusion and helping meet the diverse payment needs of under-banked customers.”

The ‘Lulu Money Salary Card’ offers an app-first payroll process and works like a digital WPS account. The card is embedded with NFC technology for multiple layers of security and allows users to tap and pay at thousands of retail outlets, restaurants, pharmacies, and convenience stores, using it as a debit card.

Customers will have more control over their spending, due to the card’s integration with their salary account on LuLu Money. This will enable customers to send money through LuLu Money, as well as check the account balance, download statements and transaction history, set the card usage limit, reset PIN, and block and replace the card.

Muzaffer Hamid, CEO, Mercury Payments, said, “Our newly formed alliance with Lulu Exchange forms an important part of our digital-first strategy, and comes with great excitement to offer multiple innovative products to support UAE government’s vision of a cashless economy. Mercury’s aim is to help Lulu exchange boost socio-economic well-being by serving the underserved to enable them with access to financial products & services across UAE and the world. Mercury products are accepted in millions of locations across 200+ countries in the world.”