Merchantrade Money VISA Prepaid Card (hereinafter “Card”) is an electronic money (e-money) payment instrument with multi-currency wallet that contains monetary value that is paid in advance by the Cardholder to enable payments for purchases, which carries the VISA payment features and issued by Merchantrade Asia Sdn. Bhd.
(Refer to http://www.bnm.gov.my/index.php?ch=ps&pg=ps_regulatees)
Payments can be made for physical or digital remittance, money changing and other services at Merchantrade branches, digital platforms and participating agents, as well as for goods and services at participating VISA merchants worldwide. Top-ups can be performed at all Merchantrade branches, participating agents as well as at participating digital channels. Cash withdrawals can be performed at all Merchantrade branches, participating agents as well as at VISA Plus enabled ATMs.
The Card also carries a VISA payWave feature that allows contactless payments either singly or in aggregate not exceeding RM250 daily.
The Card needs to be preloaded with funds at Merchantrade branches or participating agents before use. It can also be loaded via online banking services offered by participating Banks (CIMB Clicks, Maybank Cash Deposit Machines, M2U, JomPay & FPX) and other methods enabled by Merchantrade from time to time.
Once funds are loaded onto the Card, it can then be used to purchase goods and services at VISA merchants and to perform cash withdrawals at Merchantrade branches, participating agents and at VISA Plus ATMs in Malaysia and worldwide. The transaction amount will be immediately deducted from the Cardholder’s Card Account Balance.
Benefits include the following:
a) Enjoy peace-of-mind of not having to carry physical cash, especially when you shop or travel overseas.
b) Convenience in making payments for goods and services at more than 120,000* VISA merchant in Malaysia and 46 million* VISA merchant locations worldwide.
c) Cash withdrawals at Merchantrade branches, participating agents as well as more than 11,000* VISA Plus ATMs in Malaysia and more than 2.5 million* worldwide.
d) Access to a range of services 24 hours a day including convenient management of your funds through Merchantrade Money web service.
e) No hidden forex or cross-currency charges for the listed currency wallet(s) if Cardholder makes payment for overseas purchases using their stored corresponding foreign currencies in the wallet.
(*Note: The figures shown are approximate as at June 2018 and may vary from time to time).
There are 2 channels to apply for the Card. i.e. 1) Face-to-Face Channel via Merchantrade branches, Merchantrade’s and authorized agents; and 2) Website and/or Mobile Application. We may however introduce other channels for application of the Card from time to time (e.g. sales booths or self-service kiosk).
Applicant(s) must be at least 12 years old. Applicant(s) below 18 years of age must be accompanied by their parent/guardian with relevant supporting documentation. For Face-to-Face Application Channel, Applicant(s) must be physically present at Merchantrade’s branch(es) or selected authorised agent(s) outlet(s). To process the Applicant(s) application for the Card, the following documents are required: –
(i) Malaysian applicant(s) must produce Malaysian NRIC
(ii) Foreigner(s) must produce either (a) Foreign Passport; (b) Malaysian Work Permit; or (c) official photo identification card issued by foreign country
(iii) Malaysian registered mobile number
(iv) Residential address in Malaysia
(v) Employment details (if employed)
Upon successful registration, the applicant will be issued with the Card instantly for non-personalised card. For personalised card with applicant’s name (with or without photo), it shall be issued within 10 Business Days.
Can I replace your current card with the new card?
Answer: Yes, absolutely. Just head on over to any of our branches to get a replacement. If you have signed up online for your current card, you can also call our customer support at 1-300-88-8606 (local) or +603 8313 8606 (overseas) to request for a replacement and your new card will be delivered to your current registered address.
Can I still use my current card without replacing?
Answer: Yes, you definitely can continue using your current card without replacing as it is not a mandatory replacement.
What is the difference between the current card and the new card
Answer: It’s an aesthetic upgrade. The new provides you with a simple and sleek look. It also looks really cool in your wallet. The features will remain the same.
Are there any charges to change to a new card?
Answer: Yes. RM10 will be charged and debited from your card’s balance.
Do I need to change any setup or settings in the mobile application
Answer: No. Your new card will automatically replace the previous card in your mobile application.
Can I have my picture on the new card?
Answer: No. The new card is designed with name (for online registration only) and numbers.
Can I choose to remain the same card number on the new card?
Answer: No. Your new card will have a different card number for security purpose.
Can I change my name on the new card?
Answer: Yes, however it is only applicable for existing customers who already have personalised cards with names.
If you have registered for MM card by non-Face-to-Face Channel, the multi-currency feature will remain disabled. To enable the multi-currency feature, you are required to visit any Merchantrade branch to perform a one-time Face-to-Face KYC. Cardholder must produce their original copy of identity document for the Face-to-Face KYC.
The Cardholder can use the Mobile Application or access Web Portal to perform the following:
• View Card Account balance
• View transaction history
• Retrieve monthly e-statement
• Block Card
• Reset Card Pin
The following are some of the top-up and withdrawal channels:
• Merchantrade branches
• Participating agents
• CIMB Clicks, M2U, JomPay, FPX
• Maybank Cash Deposit Machines
• Merchantrade branches
• Participating agents
• ATMs bearing VISA Plus logo
Please refer to our Product Disclosure Sheet enclosed together with the Card or visit Merchantrade’s website www.merchantrademoney.com for further details on our fees and charges.
Types of Transaction Wallet Size of RM10,000.00 or RM3,000.00
Maximum(Up to wallet size)
At Merchantrade branches
• Initial first-time top-up* RM100.00
• Subsequent top-ups RM1.00
• Withdrawal RM1.00
Top-up through CIMB Clicks and M2U Subject to the Bank’s minimum limit Up to wallet size*
FPX & JomPay RM1.00 Up to wallet size*
Card-To-Card Transfer RM1.00 Up to wallet size*
Domestic ATM Cash Withdrawal Subject to ATM’s minimum limit Up to wallet size*
& subject to ATM’s maximum limit
Overseas ATM Cash Withdrawal (VISA Plus Network only) Subject to ATM’s minimum limit Up to wallet size* & subject to ATM’s maximum limit
Point of Sale Transaction No minimum Up to wallet size*
E-Commerce No minimum Up to wallet size*
* Minimum Card Account balance of RM20.00 must be maintained at all times.
Merchantrade may impose limits (amount and/or count) on card to card transfers.
A Multi-currency wallet is one of the features of the Merchantrade Money VISA Prepaid Card where you can pre-load up to 20 different foreign currencies. The available foreign currencies are US Dollar (USD), Singapore Dollar (SGD), British Pound (GBP), Australia Dollar (AUD), Indonesia Rupiah (IDR), Euro (EUR), Thai Baht (THB), Japanese Yen (YEN), Saudi Riyal (SAR), Chinese Renminbi (CNY), New Taiwan Dollar (TWD), Hong Kong Dollar (HKD), South Korean Won (KRW), Indian Rupee (INR), Philippines Peso (PHP), Canadian Dollar (CAD), New Zealand Dollar (NZD), United Arab Emirates Dirham (AED), Swiss Franc (CHF) and Vietnamese Dong (VND). The default currency is Ringgit Malaysia (MYR). This feature allows you to pay in the local currency of the country you are visiting, as long as you have pre-loaded your card with sufficient funds before travelling abroad or shopping online.
You can exchange MYR with the listed 20 foreign currencies or exchange any of the listed 20 foreign currencies to MYR via Mobile Application and Web Portal.
The foreign exchange rates can be found in Mobile Application and Web Portal.
The maximum amount you can exchange and store will be based on your card’s overall wallet size in Ringgit Malaysia (MYR). The total cumulative value of your multi-currency wallets must not exceed your card’s overall wallet size in Ringgit Malaysia. Transactions made in any of the 20 listed foreign currencies supported by Merchantrade Money VISA Prepaid Card but with insufficient available balance, the value of the transaction will be processed using respective Listed Currency Wallet(s) in the following order of priority: MYR, USD, SGD, GBP, AUD, IDR, EUR, THB, YEN, SAR, CNY, TWD, HKD, KRW, INR, PHP, CAD, NZD, AED, CHF and VND at conversion rate set by VISA international. The number of listed currencies available may vary from time to time.
All transactions performed using the Card are secured either through One-Time-PIN (OTP) for online transactions that use 3D-Secure or Personal-Identification-Number (PIN) for Card terminal chip-reader transactions and ATM transactions. For contactless mode of Transactions by way of Contactless Reader, a single or cumulative daily purchases amount of RM250 can be transacted on the Card.
Chip and PIN is a PIN-enabled Card that allows you to make purchases at a Point of Sale terminal by keying in a secured 6-digit PIN, without the need of a signature.
A PIN is an abbreviation of Personal Identification Number, it is a secret code that is selected by you to prove that you are the rightful owner of the Card. Card PINs in Malaysia have six (6) digits.
PIN is safer as it can help protect against fraud due to lost or stolen Cards, as both the Card and PIN are required to make a transaction. For that reason, you must always ensure that you keep your PIN secret.
For security reasons, your OTP will be sent to you via SMS. You must immediately use the temporary OTP and create the Card PIN to your preferred 6-digit Card PIN immediately.
Yes. Each PIN-enabled Card has only one (1) PIN that can be used for transactions at the ATM and retail purchases at the Point of Sale terminals.
If you enter the wrong PIN after three (3) incorrect attempts, your Card will be blocked for security reasons. If your Card has been blocked, contact our Customer Service Help Desk immediately to unblock.
In the event you forget your PIN, Cardholder can reset PIN:
• Visit any Merchantrade branch or participating agent
• Via Mobile Application
• Via Web Portal
To avoid unauthorised access, you should immediately lock your Card by either (i) contacting our Customer Service Help Desk; (ii) Mobile Application which provides for “Block Card” under Setting Menu; or (iii) logging into Web Portal which provides for Block Card option. Simultaneously, you must notify Merchantrade of such compromise to your Card PIN number.
You must immediately block your Card (as explained in the answer to Question 19 above). Visit the nearest Merchantrade branch for a Card replacement.
Upon cancellation, the balance in the Card Account will be refunded to the Cardholder after deduction of any applicable charges, within 15 Business Days after the cancellation. However, the Cardholder is still liable for all transactions that have been made with the Card prior to cancellation.
If the transaction is on contactless mode, Card PIN or signature is not required. However, such transactions are restricted to a single or cumulative daily purchase equivalent to an amount up to RM250.
It is essential that you keep your PIN a secret, so that your Card is protected against fraud as a result of lost or stolen Cards. You must ensure that your PIN is not easy to guess by avoiding numbers that can be associated with you such as significant personal dates (e.g. your birthday or anniversary), telephone number, or driver’s license number. Other measures to keep your PIN safe include:
• Do not keep a written record of your PIN;
• Do not allow another person to see your PIN when you enter it;
• Do not keep your PIN in a form that can be readily identified as a PIN;
• Do not disclose your PIN to any other person;
• Do not negligently or recklessly disclose your PIN;
Change your Card PIN using the Mobile Application or Web Portal and notify Merchantrade immediately if you become aware that your PIN has become known to someone else. Go to Card Settings of the Mobile Application and look for “Change Card PIN” or look for “Change Card PIN” in the Web Portal menu after logging in.
Get your Merchantrade Money card
A compliant resolution arm of Bank Negara Malaysia
+603 2174 1717 (Overseas)
Tingkat Bawah, Blok D
Bank Negara Malaysia
Peti Surat 10922
50929 Kuala Lumpur
An independent body set-up to help settle disputes between financial service providers licensed or approved by Bank Negara Malaysia
(Formerly known as Financial Mediation Bureau)
Level 14, Main Block
Menara Takaful Malaysia
No. 4, Jalan Sultan Sulaiman
50000 Kuala Lumpur