Wall Street Exchange pioneers first-ever exchange centre prepaid gift card in UAE currency

Prepaid gift card marks WSE and the UAE's trek towards a cashless and weightless transaction

The Gift Card is designed to be bought as a present for a friend or relative or pay bills for any occasion

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. This card can be used anywhere in the world, 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 to Dh3,500.

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 flavor of the season, it’s the future," Al Mahmoud said.

Major countries across the globe are seeing an organic growth of the cashless economy and proactively promoting digitalisation of all cash transactions.

About Wall Street Exchange

Wall Street Exchange, established in Dubai in 1982, is one of the first companies to provide comprehensive money exchange services in the UAE. The company has been providing a wide range of foreign exchange, money transfer and related services in the region for over 30 years.

Wall Street's continued growth has allowed it to set up a worldwide network that includes offices in the UAE and Hong Kong. With its global reach, local expertise and dedicated staff, Wall Street is the preferred choice for currency exchange and remittances. In addition, Wall Street provides other services such as credit card bill payments and cash advances, National Bonds, Air Arabia, Etisalat, Du, Dubai Police fine payments, SEWA and much more.