Migrant workers in Sabah can now tap Merchantrade Money e-wallet for direct salary disbursements

 

MERCHANTRADE Asia Sdn Bhd, a leading e-wallet and money services business operator in Malaysia, has been officially recognised as an approved issuer of a Designated Payment Instrument (DPI) for the state of Sabah.

Formalised by the Human Resources Minister under the Labour Ordinance of Sabah, this significant approval complements Merchantrade’s existing approval for Peninsular Malaysia since Aug 1, 2024.

Made effective on Dec 1, this new mandate for Sabah state allows employers in Sabah to utilise Merchantrade’s innovative solutions such as their payroll portal alongside Merchantrade Money e-wallet to manage wage payments for foreign employees in full compliance with Malaysian labour laws.

Recognising the challenges faced by employers in managing traditional payroll for foreign workers, Merchantrade provides a one-stop solution for both employers and employees in an integrated ecosystem.

The Sabah approval is particularly critical given the state’s vast geographic and economic structure. Sabah spans 7.4 million hectares with approximately 1.7 million consisting of plantations, thus presenting a real logistical challenge.

Due to Sabah’s magnitude, both workers and employers traditionally rely on cash for salary disbursement given workers often have to travel extremely long distances to open a bank account.

This itself poses a significant security risk for both parties. Therefore, the Merchantrade e-wallet is the ultimate digital answer as it facilitates direct salary disbursements, instant remittance and improved security for everyday transactions.

Additionally, workers can still access cash via ATMs using their paired VISA cards, hence ensuring flexibility and inclusiveness.

Merchantrade Asia Sdn Bhd’s founder and managing director Ramasamy K. Veeran

Commented Merchantrade’s founder and managing director Ramasamy K. Veeran”

“This authorisation for Sabah is a monumental step that strengthens Merchantrade as a leading service provider driving the digital wage revolution supported with solutions that are inclusive and equipped with the right ecosystem of physical touchpoints to deliver our transformative solution seamlessly across Sabah”.

Very broadly, the transition to digital wages brings transparency to wage payments coupled with how closely Merchantrade works with the Social Security Organisation (PERKESO to deliver social security protection payments direct to employees ensuring faster and better financial transparency.

In a nutshell, the Merchantrade Money e-wallet is a robust suite of features, including remittances, mobile top-ups, micro-insurance and QR payments that caters specifically to the needs of the unbanked and migrant worker community. –  Focus Malaysia