Merchantrade Secures Sarawak Mandate, Completing Nationwide Digital Payroll Coverage
Merchantrade Asia Sdn Bhd (“Merchantrade”), a Malaysian incorporated Money Services Business Provider and e-Money Issuer has the necessary statutory recognition to disburse foreign worker wages digitally across Sarawak. The mandate was formalized following the publication of the Labour (Recognized Approved Issuer of a Designated Payment Instrument) (Sarawak) Order 2026, effective for three years, running from 1 August 2026 to 31 July 2029. With this milestone, Merchantrade now has statutory recognitions across Peninsular Malaysia, Sabah, and Sarawak.
Nationwide, over 3,000 employers including 40 public-listed companies rely on the Merchantrade Payroll portal to streamline and digitize monthly wage crediting. Disbursements are made through innovative cashless options like DuitNow or instant bank transfers directly 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.
Ramasamy K. Veeran, Founder and Managing Director of Merchantrade, said:
“With this recognition from Sarawak, it completes our objective to provide nationwide digital wage to e-wallet across Peninsular, Sabah, and Sarawak. We extend our sincere appreciation to the Department of Labour Sarawak (JTK Sarawak) for their progressive leadership and recognizing the pivotal role of digital e-wallets in bridging the financial ecosystem for unbanked workers. We are 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, handling customer onboarding, compliance, and B2B portal integrations statewide. The hub is supported by a network of authorized agents throughout the state. Building on 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 labor-intensive industries. 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 and 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.
