MERCHANTRADE Asia Sdn Bhd a Malaysian incorporated money services business provider and e-money issuer, has obtained the necessary statutory recognition to disburse foreign worker wages digitally across Sarawak.
The mandate – effective for three years from Aug 1, 2026 till July 31, 2029 – was formalised following publication of the Labour (Recognised Approved Issuer of a Designated Payment Instrument) (Sarawak) Order 2026.
With this milestone, Merchantrade now has statutory recognitions across Peninsular Malaysia, Sabah and Sarawak.
Editor’s Note: Similar offering was made available in Saah effective Dec 1, 2025 which complements Merchantrade’s existing approval for Peninsular Malaysia since Aug 1, 2024.
Nationwide, over 3,000 employers, including 40 publicly listed companies, rely on the Merchantrade Payroll portal to streamline and digitise monthly wage crediting.
Disbursements are made through innovative cashless options, including DuitNow, instant bank transfers or direct transfers to individual workers’ Merchantrade Money e-wallets
Replacing manual cash payroll across remote sites in Miri, Bintulu, Sibu and Kapit eliminates security risks and transit costs that consume up to 6% of cash budgets.
Direct e-wallet deposits deliver automated ESG audit trails and directly support Sarawak’s Post COVID-19 Development Strategy 2030 (PCDS 2030) cashless economy goals.
“With this recognition from Sarawak, it completes our objective to provide nationwide digital wage to e-wallet across Peninsular, Sabah and Sarawak,” commented Merchantrade’s founder and managing director Ramasamy K. Veeran.
“We extend our sincere appreciation to the Department of Labour Sarawak (JTK Sarawak) for their progressive leadership and recognising the pivotal role of digital e-wallets in bridging the financial ecosystem for unbanked workers.”
Added Ramasamy: “We’re proud to make payday digital for employers, accelerate the cashless transition under PCDS 2030 and provide workers with secure financial access.”
Merchantrade manages its Sarawak enterprise operations through a Regional Operations Hub in Kuching which handles customer onboarding, compliance and B2B portal integrations statewide.
Supported by a network of authorised agents throughout the state, the initiative leverages local community initiatives such as the e-Duit@Serikin project which helped transform the Serikin border market community into a cashless trading hub.\
The platform addresses financial inclusion for an estimated 45% of foreign workers in Malaysia who form a vital component for labour-intensive industries.
In essence, Merchantrade Money e-wallet and physical Visa prepaid card provide workers with:
- 24/7 cross-border remittances: Direct transfers via Merchantrade’s global remittance network.
- Cashless spending & ATM access: POS retail payments, QR & Mobile Tap payments as well as cash withdrawals at Visa ATMs globally.
- Key integration: Direct payouts for PERKESO (SOCSO) social security claims.
- Micro-insurance: Life insurance as low as RM1 per month from Merchantrade Insure underwritten by licensed insurance partner, MCIS. – Aug 13, 2026
