Terry KS Merchantrade Asia has been officially approved as a Designated Payment Instrument issuer for Sabah, enabling fully compliant digital wage payments for foreign workers. The authorization aims to solve long-standing payroll challenges in the state’s vast and remote regions through secure and inclusive e-wallet solutions.
MALAYSIA, 11 DECEMBER 2025 – Merchantrade Asia Sdn. Bhd. (Merchantrade), one of Malaysia’s leading e-wallet and money services business operators, has been formally recognized as an Approved Issuer of a Designated Payment Instrument (DPI) for the state of Sabah. The approval, granted by the Minister of Human Resources under the Labour Ordinance of Sabah, builds on Merchantrade’s earlier authorization for Peninsular Malaysia, effective since 1 August 2024. With the Sabah mandate taking effect from 1 December 2025, employers across the state can now use Merchantrade’s digital payroll portal and Merchantrade Money e-wallet to manage wage payments for foreign employees in full compliance with Malaysian labour regulations.
The approval is especially significant for Sabah, a state covering 7.4 million hectares, including 1.7 million hectares of plantation land—areas where logistical and financial access challenges have historically limited the adoption of traditional banking. Many foreign workers must travel long distances to open bank accounts, resulting in employers opting for cash-based salary disbursement. This reliance on cash has created ongoing security concerns for both employers and workers.
Merchantrade’s digital wage solution aims to eliminate these barriers by offering a seamless and secure ecosystem that enables direct salary crediting, instant remittance, and safer everyday transactions. Workers gain additional flexibility through paired VISA cards that allow ATM cash withdrawals, ensuring no one is left behind in the shift to digital payments.
Ramasamy K. Veeran, Founder and Managing Director of Merchantrade, said the approval represents a major milestone for the company. “This authorization for Sabah is a monumental step, strengthening 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,” he said.
Beyond payroll efficiency, the transition to digital wages enhances transparency and streamlines social protection benefits. Through Merchantrade’s close collaboration with PERKESO, social security contributions can be credited directly to employees, improving payment accuracy and speed.
The Merchantrade Money e-wallet provides a comprehensive set of features tailored to the needs of migrant and unbanked communities, including international remittances, mobile top-ups, micro-insurance offerings, and QR payments. With strong digital infrastructure supported by on-ground service touchpoints, Merchantrade’s ecosystem is positioned to advance financial inclusion and modernize wage management across Sabah’s diverse industries.