Wall Street Exchange (WSE), UAE’s leading comprehensive money exchange service provider and a member of Emirates Post Group, has piloted a universal prepaid MasterCard gift card in UAE currency, which can be used globally where MasterCard is accepted.

The Wall Street Exchange Gift Card becomes the first of its kind to be issued by any exchange house in the country, which makes gifting and corporate transactions a lot more convenient and seamless experience today.

Sultan Al Mahmoud, acting managing director of Wall Street Exchange, said: "After the success of Wall Street Exchange's Payroll Programme - Paytime, we are able to come up with this idea of encapsulating the wonderful gift of giving into a seamless and weightless card which will benefit both the giver and the recipient.”
 
Backed by Majid Al Futtaim Finance, the Gift Card is designed to be bought as a present for a friend or relative or pay bills on all occasions, ranging from holidays, birthdays, graduations, anniversaries, or any other celebration.

Alongside its rapid trajectory toward cashless transaction, Wall Street Exchange has created the card in such a way that it can be utilised as employee incentive, pocket money, cash out payment and for domestic and international expenses as well. Prepaid cards are gaining wider acceptance because they allow consumers to make purchases online and in store without the need of carrying cash and having a bank account or a credit card. The WSE gift card can be purchased over Wall Street Exchange counters and used in POS terminals, at merchant outlets, and for e-commerce transactions anywhere in the world where MasterCard is accepted.

The card can basically hold the amount of money, from Dh100 ($27.2) to Dh3,500 ($952.7).

With the maximum validity period of 12 months, balance inquiry can be also done via mobile or website.

Proving that cashless payments can move progress beyond credit cards or debit cards, Wall Street Exchange has released the idea of having this Gift Card to boost economic growth while advancing its electronic financial system.

"Wall Street Exchange continues to provide innovative payments solutions for its clients at all income levels. The release of Wall Street Exchange Gift Cards marks the UAE's trek towards a cashless and weightless society. It’s not just the flavour of the season, it’s the future," Al Mahmoud said. - TradeArabia News Service