More than 1 million unbanked now benefiting from innovative Edenred's C3 payroll solution in the UAE

Around 60 percent of the working population in the UAE is outside the current financial system. Edenred, the fast-growing payroll solutions provider is ready to address the specific needs of these individuals who lack bank accounts, credit cards or loan options.

Press release
About
Contacts

The innovative C3 solution enables companies to conveniently process salaries of employees through a corporate portal and in turn empower employees by providing them with a card linked to myC3card mobile app.

Currently serving more than 2,000 companies, over 10 banks and 30 financial institutions, the company announced today that it has crossed a major milestone: 1 million holders of the C3 card, powered by RAKBANK.

Edenred also announced the strengthening of the C3 mobile app offering this month by adding a highly affordable Advance against Salary feature powered by RAKBANK. Customers who meet the eligibility criteria can now receive up to 50 percent of their monthly salary and enjoy convenient features such as instant credit and automatic repayment. In 2018, Edenred launched the first digital money transfer service in the UAE, in conjunction with RAKBANK.

“We continue to enhance our comprehensive solution with innovative specific value-added services that offer flexibility, reliability and a sense of security that makes a quantifiable difference to the lives of our customers. The addition of the Advance against Salary feature to our C3 mobile app further underscores our commitment to ensuring their financial inclusion and personal growth,” said Anouar Bourakkadi, Chief Operating Officer of Edenred UAE.

About

Edenred is a leading digital platform for services and payments and the everyday companion for people at work, connecting more than 52 million users and 2 million partner merchants in 45 countries via close to 1 million corporate clients.

Edenred offers specific-purpose payment solutions for food (such as meal benefits), incentives (such as gift cards, employee engagement platforms), mobility (such as multi-energy, maintenance, toll, parking and commuter solutions) and corporate payments (such as virtual cards).

True to the Group’s purpose, “Enrich connections. For good.”, these solutions enhance users’ well-being and purchasing power. They improve companies’ attractiveness and efficiency, and vitalize the employment market and the local economy. They also foster access to healthier food, more environmentally friendly products and softer mobility.

Edenred’s 10,000 employees are committed to making the world of work a connected ecosystem that is safer, more efficient and more responsible every day.
In 2022, thanks to its global technology assets, the Group managed some €38 billion in business volume, primarily carried out via mobile applications, online platforms and cards.

Edenred is listed on the Euronext Paris stock exchange and included in the following indices: CAC 40 ESG, CAC Next 20, CAC Large 60, Euronext 100, FTSE4Good and MSCI Europe.