Merchantrade Secures Sarawak Mandate, Completing Nationwide Digital Payroll Coverage.

Merchantrade Asia Sdn Bhd (Merchantrade), a Malaysia-incorporated Money Services Business Provider and e-Money Issuer, has completed its nationwide digital payroll coverage after receiving statutory recognition to digitally disburse foreign worker wages across Sarawak.

The recognition was formalised through the publication of the Labour (Recognized Approved Issuer of a Designated Payment Instrument) (Sarawak) Order 2026, which took effect for a three-year period from 1 August 2026 to 31 July 2029. With this milestone, Merchantrade now holds statutory recognition to provide digital wage disbursement services across Peninsular Malaysia, Sabah and Sarawak.

Nationwide, more than 3,000 employers, including 40 publicly listed companies, currently rely on the Merchantrade Payroll portal to streamline and digitise monthly wage payments. The platform enables employers to make cashless disbursements through DuitNow, instant bank transfers or direct transfers into individual workers’ Merchantrade Money e-wallets.

The digital payroll solution also helps reduce reliance on manual cash payments, particularly for employers operating in remote areas such as Miri, Bintulu, Sibu and Kapit. By replacing physical cash payroll, employers can reduce security risks and transportation expenses associated with cash handling, with such costs potentially accounting for up to 6% of cash budgets.

Beyond payment efficiency, direct e-wallet wage deposits provide automated ESG audit trails while supporting Sarawak’s transition towards a cashless economy under the Post COVID-19 Development Strategy 2030 (PCDS 2030). The digital approach enables employers to maintain more transparent payment records while providing workers with faster and more secure access to their wages.

Ramasamy K. Veeran, Founder and Managing Director of Merchantrade.

Founder and Managing Director of Merchantrade, Ramasamy K. Veeran, said the recognition in Sarawak completes the company’s objective of providing nationwide digital wage-to-e-wallet services across Peninsular Malaysia, Sabah and Sarawak. He also expressed appreciation to the Department of Labour Sarawak (JTK Sarawak) for recognising the role of digital e-wallets in expanding financial access for unbanked workers.

Merchantrade manages its enterprise operations in Sarawak through a Regional Operations Hub in Kuching, which oversees customer onboarding, compliance and B2B portal integrations across the state. The hub is supported by a network of authorised agents, while the company’s local community initiatives include the e-Duit@Serikin project, which helped transform the Serikin border market community into a cashless trading hub.

The company’s digital financial ecosystem is designed to support financial inclusion among foreign workers, who represent an estimated 45% of Malaysia’s workforce in labour-intensive industries. Through the Merchantrade Money e-wallet and physical Visa prepaid card, workers have access to 24/7 cross-border remittance services through Merchantrade’s global remittance network.

Workers can also use the platform for cashless retail payments, QR and mobile tap transactions, as well as cash withdrawals through Visa ATMs globally. The ecosystem also supports direct payouts for PERKESO (SOCSO) social security claims, while Merchantrade Insure offers life insurance coverage starting from as little as RM1 per month, underwritten by licensed insurance partner MCIS.

With statutory recognition now secured across all three regions of Malaysia, Merchantrade is positioned to further expand digital wage payments and cashless financial services for foreign workers nationwide. The development reinforces the company’s role in advancing financial inclusion while helping employers improve the security, efficiency and transparency of payroll operations.