Rebecca PY MALAYSIA, 11 AUGUST 2026 – Merchantrade Asia Sdn Bhd, a leading Money Services Business provider and e-money issuer in Malaysia, has achieved statutory recognition to disburse foreign worker wages digitally across Sarawak. The official mandate was formalized through the Labour (Recognized Approved Issuer of a Designated Payment Instrument) (Sarawak) Order 2026, which is effective for three years starting 1 August 2026 until 31 July 2029.
With this milestone, Merchantrade completes its goal of securing statutory recognitions across Peninsular Malaysia, Sabah, and Sarawak. On a national scale, over 3,000 employers, including 40 publicly listed corporations, utilize the Merchantrade Payroll portal to streamline monthly salary distribution. Payroll payments can be made through DuitNow, instant bank transfers, or direct deposits into individual workers’ Merchantrade Money e-wallets.
Replacing manual cash disbursements across remote areas like Miri, Bintulu, Sibu, and Kapit eliminates major security risks and transit costs that can eat up to 6% of cash payroll budgets. Direct e-wallet transfers also create automated ESG audit trails while supporting the goals of Sarawak’s Post COVID-19 Development Strategy 2030 (PCDS 2030) for a cashless economy.
Ramasamy K. Veeran, Founder and Managing Director of Merchantrade, thanked the Department of Labour Sarawak (JTK Sarawak) for recognizing the role of digital e-wallets in connecting unbanked workers to the financial ecosystem. He emphasized that the initiative makes payday digital for employers statewide, accelerates the cashless transition, and offers workers secure access to financial tools.
Merchantrade manages enterprise operations across the state through a Regional Operations Hub located in Kuching, which oversees onboarding, compliance, and business portal integrations. This hub is supported by a network of authorized agents and community initiatives, such as the e-Duit@Serikin project that helped turn the Serikin border market into a cashless trading center.
The initiative helps address financial inclusion challenges for an estimated 45% of foreign workers in Malaysia who play a critical role in labor-intensive industries. Through the Merchantrade Money e-wallet and physical Visa prepaid card, workers gain access to 24/7 cross-border remittances, retail cashless payments, ATM cash withdrawals globally, direct PERKESO (SOCSO) social security payouts, and micro-insurance coverage starting from RM1 per month from MCIS.