Peninsular Malaysia Labour Dept recognises Merchantrade Asia as an Approved Issuer of a Designated Payment Instrument

Peninsular Malaysia Labour Dept recognises Merchantrade Asia as an Approved Issuer of a Designated Payment Instrument8bil in 2023Merchantrade Asia Sdn Bhd, Malaysia’s largest Money Services Business operator and a leading player in the digital payments space, has been officially recognized as an approved issuer of a designated payment instrument by the Jabatan Tenaga Kerja Semenanjung Malaysia for the purpose of wage payments.

“Digital wage payments are gaining momentum worldwide, and we are proud to be leading this evolution in Malaysia,” said Ramasamy K. Veeran“Expanding into digital wage solutions was a natural progression following our growth in the remittance and e-wallet space, addressing yet another critical pain point for foreign workers and other unbanked segments in Malaysia.

Complementing its proprietary wage disbursement and e-wallet platforms, the company’s ecosystem includes an extensive network of physical touchpoints, with 95 branches and over 490 agent locations nationwide serving as support centers with dedicated on-ground teams that assist both employers and employees in urban and rural areas. The company’s 'first-to-last-mile' approach ensures comprehensive support at every step of their journey, from onboarding and training to after-sales service.

Paired with a Visa prepaid card, users can make cash withdrawals and cashless payments, both at retail outlets and online.

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