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Making the most of your money is a concern for everyone these days, so we were excited to hear about InsuranceMarket.ae’s exciting new strategic partnership with LuLu Exchange.
Keen to know more, we asked executives from the two companies to tell us about their agreement. Avinash Babur, CEO, InsuranceMarket.ae, said: “Our aim has always been to add value for our customers, and by partnering with similarly high calibre, blue-chip brands, we’re able to offer not only the best insurance in the market but also market-leading offers on a variety of products and services. There’s great synergy between ourselves and LuLu Exchange so we’re excited to partner with them.”
Grishma Apte, general manager, myAlfred, said: “Through this partnership of Lulu Exchange and myAlfred, our customers are able to get a LuLu Hypermarket gift voucher worth Dh50 to spend how they like, when they download and make their first transaction through the Lulu Money app. And for all Lulu Exchange Gold Card, Lulu Money and My Pay card Lulu Exchange customers, they can enjoy a fantastic 10 per cent discount worth up to Dh200 on any car or home insurance product purchased through InsuranceMarket.ae.”
Talking about the partnership, Thampi Sudarsanan, AVP, LuLu Exchange, said: “We are delighted to partner with the UAE’s leading online players to bring our digital cross-border solution closer to their customers. ‘myAlfred’ and ‘InsuranceMarket.ae’ are digital-first brands with an eye on unmatched experience and benefits for online users, and by partnering with them, we look to broaden the scope of benefits offered to our customers in their digital journey with LuLu Money.” Sounds like we’ve revealed a pearl of a partnership, and with this offer starting from May 1, you can enjoy valuable savings just in time for Eid.

With a little over a week left for the holy month of Ramadan to commence, LuLu Exchange has rolled out an exciting new campaign for the festive season. Slated to run from 25th March to 23rd May 2022, the Send Smart & Get Cash Back promotion is open to all customers who transact via any of the 83 branches of LuLu Exchange or through the LuLu Money transfer app in the UAE.
The e-raffle draw will select 300 winners over the two-month period, with winners eligible for 100% cashback rewards. To be enrolled into the e-raffle draws, customers need to make a minimum of two money transfers within the scheduled periods. Those making higher number of transactions will have higher chances to win, with the minimum money transfer amount pegged at AED 100. The company has fixed the upper limit of cashback prize at 3000 AED.
The promotion eligibility will be based on a successful credit of the customer’s remitted amount. Cancelled, returned or void remittance transactions will not be eligible for the promotion.
The eligibility periods are as follows:
Eligibility Periods: March 25 – April 8 | Draw date: April 11 | Number of winners: 75
Eligibility Periods: April 9-23 | Draw date: April 25 | Number of winners: 75
Eligibility Periods: April 24 -May 8 | Draw date: May 11 | Number of winners: 75
Eligibility Periods: May 9-23 | Draw date: April 25 | Number of winners: 75
For more details about the promotion, visit the LuLu Exchange social media pages or call 600522204

LuLu International Exchange – one of the leading payment service providers in the UAE, has entered a strategic collaboration with Network International – the leading enabler of digital commerce across the Middle East and Africa (MEA), and global payments technology leader, Visa, to enable users to remit digitally on the LuLu Money payments app using Visa debit cards.
Through this partnership, Lulu Exchange aims to drive convenience and ease of money transfer for millions of people in the UAE holding a Visa debit card. The transactions conducted through the LuLu Money app will carry no additional charge or hidden fee and will offer industry-leading processing time at the highest level of service quality.
Talking about the partnership, Mr. Richard Wason, CEO, LuLu Financial Group, said, “The payments ecosystem in the UAE is advancing rapidly, and in this context, creating easier touchpoints for users to conduct their transactions online will go a long way in building trust. As an active participant of the UAE’s payments ecosystem, we see our partnership with Visa and Network International as a meaningful collaboration that can drive greater financial inclusion.”
Shahebaz Khan, Visa’s General Manager for UAE, Bahrain, and Oman, said: “We are delighted to partner with Lulu International Exchange to help meet UAE consumers’ increasing expectations for a more seamless and secure way to move funds. With Visa’s Account Funding Transaction service, Lulu Exchange customers holding a Visa debit card can use their debit cards to fund their remittance transactions from their phone in near real time and with the peace of mind of knowing that it’s also secure.”
Andrew Key, Group Managing Director – Acquiring, Network International, added, “As consumers increasingly turn to contactless channels for their payment needs, we are pleased to collaborate with Lulu International Exchange, as its exclusive partner, and Visa to bring digital innovation in the remittances space. LuLu Exchange’s customers who are Visa debit cardholders can now transfer funds quickly and securely via their mobile apps. We look forward to supporting regional exchange houses looking to digitalize their remittances offering while keeping costs low.”
The new service is presently limited to Visa debit cards issued by select UAE banks, with wider coverage expected to be rolled out by the first half of the year.

LuLu International Exchange – one of UAE’s most prominent financial services provider, has partnered with Magnati – a fully owned subsidiary of First Abu Dhabi Bank (FAB), to launch the DWallet Card Payment Service for UAE citizens and residents.
As a part of the service, sponsors of domestic workers can now transfer their domestic worker’s salary to their DWallet prepaid card through any of the 83 branches of Lulu Exchange, which will help facilitate payment and top-ups for the cards. The partnership expands DWallet’s network of participating entities and improves convenience for sponsors making salary transfers.
DWallet is an initiative between the Ministry of Human Resources & Emiratization (MOHRE), First Abu Dhabi Bank (FAB) and Magnati to provide a unified payment solution to domestic workers. The solution is designed to facilitate monthly salary transfers and ensure domestic workers across the UAE are paid in a transparent and cashless manner wherein earnings are deposited directly into their cards.
Talking about the rollout of the service, Richard Wason, CEO, LuLu Financial Group said, “LuLu Exchange values the payment needs of all its consumers and remains committed to building upon collaborative partnerships that can aid financial inclusion for all sections of society. From being the first exchange house to integrate the UAE’s Wage protection Scheme, to launching globally accepted payment methods on our digital platform LuLu Money, we aspire to innovate value and inspire experiences to help the payments ecosystem achieve its true potential.”
Talking about the partnership, Enaz Ebrahim, Managing Director & Head of Consumer Payment Solutions, Magnati said, “Magnati is committed to provide consumers with convenient and secure payment solutions, and our partnership with LuLu Exchange allows us to deliver another financial inclusion solution for the benefit of society. We’re excited to partner with a leading financial services provider to expand DWallet’s offering and provide the sponsors with additional options to top-up the DWallet card, while advocating for increased participation of new segments in the financial sector.”

LuLu International Exchange – one of UAE’s leading cross-border payments and money exchange companies, has opened its 84th branch in the country at Al Dhaid in Sharjah. With this opening, LuLu Exchange has given a fillip to its intention to aggressively diversify its network and reach a larger cross-section of the nation’s population.
The branch was inaugurated by Adeeb Ahamed, MD, LuLu Financial Group, in the presence of other senior management, as well as dignitaries from the UAE’s payments ecosystem. The opening also marks the 249th Global Branch of the LuLu Financial Group, of which LuLu Exchange is part of.
Talking about the company’s ongoing growth strategy, Ahamed, said, “The UAE is our most widely networked market and today’s opening further establishes our commitment to bring our services closer to the people of this nation. We are bullish about the country’s financial services sector and have strategically rolled out various offerings through physical and digital mediums to service a wider demographic base. Through our newest branch, we hope to play a meaningful role in the cross-border payment needs of both locals and expats residing in Al Dhaid.”
Thampi Sudarsanan, AVP, LuLu International Exchange, said, “Our new branch at Al Dhaid has been strategically opened keeping the convenience of our customers in mind. Even as we pursue our digital transformation journey, we remain committed to strengthening our physical network, which in many ways, continues to be the first touchpoint for our customers. The Al Dhaid area is home to people from all nationalities, and the new branch will thus play a key role in ensuring our services are within reach of our customers.”
In line with the company’s customer engagement initiatives this year, the Al Dhaid branch will offer services such as remittances, WPS and currency exchange, while doubling up as an engagement centre for customers looking to transition to the company’s digital offering, LuLu Money.