RemotePass, a leading platform for remote work, has launched a physical debit card for remote teams in emerging markets. The new service looks to support remote workers with an active contract on RemotePass to receive instant payments with no fees. The solution looks to completely avoid high SWIFT fees and delays typically associated with international transfers.
The card is powered MatchMove, a fintech company which is licensed and regulated to issue Mastercard cards in Singapore. The new service enables global remote workers to hold funds in USD, giving them complete control over their finances. Users can use the card both offline and online with any merchant that accepts Mastercard.
Remote workers, particularly those in emerging markets, have generally relied on SWIFT transfers to receive their money internationally.
The physical card forms part of the RemotePass Super App for Remote Teams, which enables users to manage their contracts, subscribe to premium health insurance plans and cover dependents, track expenses, access a USD payroll physical and virtual cards, spend online and offline, and get paid instantly at zero transfer cost.
The new product offering aligns with the UAE government’s vision of attracting global talent and establishing the country as a leading hub for remote work. Through its Employer of Record services, RemotePass handles the entire relocation, visa, and insurance process for foreign companies seeking to hire and/or relocate employees or contractors in the UAE.
The UAE has become a sought-after destination for cross-border remote hiring, with companies from the US, the UK, and Saudi Arabia benefiting from access to a vast pool of highly skilled job seekers seeking full-time remote work. In addition, the UAE introduced a digital nomad visa in March 2021, allowing expatriates to reside in the country while working for their employers in their home country.
RemotePass serves hundreds of organisations of all sizes globally. The company is providing users with a unified fintech experience in emerging markets, giving access to leading financial services and benefits that were previously unavailable in these territories.
Remote workers with an active contract on RemotePass have full control over their cards through the mobile app, which enables them to freeze, terminate, view, and manage transactions in real-time.
Kamal Reggad, co-founder and CEO of RemotePass, said: “Our commitment since day one has been to offer benefits and financial services to underserved workers in emerging markets.
“Our physical card is just one of the many ways that we’re helping remote workers get the financial freedom they need to thrive.
“We are also working with different partners to bring more localised financial services and benefits such as a reward program, advance pay and pension plans.”
The RemotePass card uses 3-D Secure, providing an additional layer of authentication for online transactions. For offline transactions, users also need to enter a PIN number for added security.