Merchantrade Asia

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Merchantrade Asia (Merchantrade) is a Money Services Business (MSB), Digital Payment Service (Issuing and Acquiring), Micro-insurance and Mobile Virtual Network operator (MVNO), based in Malaysia.[1][2][3][4][5]

The company's core business is centered on international money transfers, foreign currency exchange, wholesale banknotes, digital payment processing and mobile telecommunications.[6][7][8][9] They recently introduced micro insurance as part of their service offerings.[10]

Merchantrade Asia operates 94 outlets, 5 main wholesale banknote trading hubs and more than 450 agent locations and 480 Cash-in cash-out merchants throughout Malaysia.[11][12]

History

Services

Money Services Business (MSB)

The company offers international remittance services, currency exchange and wholesale banknote services as part of its money services business segment. The company is also a member of the Malaysian Association of Money Services Business (MAMSB) and International Association of Money Transfer Networks (IAMTN).[34]

International Money Transfer

Merchantrade has branches throughout Malaysia and an online money transfer portal that offers money transfer services to major countries like USA, Australia, New Zealand, Canada, India, Bangladesh, Nepal, Indonesia and more. Their services are mainly used by parents sending money to their children studying overseas, expats in Malaysia sending money to their families back home and small to medium businesses transferring funds to suppliers and vendors in other countries. [1] [35]

Foreign Currency Exchange

Merchantrade also offers retail and online currency exchange services. Some of the key outlets are located in high end malls in Kuala Lumpur, such as Pavilion, Suria KLCC and Imago, Kota Kinabalu.[19][36]

Payments (e-money issuer)

A non-bank issuer of multi-currency e-wallet[37][38][39] with a VISA accepted prepaid card in Malaysia. The e-wallet is able to exchange directly into 20 foreign currencies and make payments directly with the card. Within the e-wallet, users may transfer funds, track expenses, make retail payments in different currencies, reload international & Malaysian prepaid mobile sim accounts as well as withdraw foreign cash from ATM around the world.[40]

Mobile Virtual Network Operator

A mobile virtual network operator (

4G LTE mobile internet and international airtime credit transfer.[41]

Products

Money Services Business

Mobile

Payments (e-money issuer)

Insurance

Institutional Shareholders

Subsidiaries

References

  1. ^ a b "MSB Act 2011". www.bnm.gov.my. Retrieved 1 December 2011.
  2. ^ a b "Money Services Business (MSB)".
  3. ^ "AMLATFPUAA Act 2001". www.bnm.gov.my.
  4. ^ a b c "List of Licensees". www.bnm.com.my.
  5. ^ "Company Website".
  6. ^ Ramanathan, Suresh. "Let's get physical with wholesale banknotes". The Star. Retrieved 23 April 2016.
  7. ^ a b "Venture into mobile virtual network operator (MVNO)". Retrieved 2 Jan 2014.
  8. ^ "Instant Money Transfer | Global Money Transfer". globalmoneytransfer.wordpress.com. Retrieved 2017-05-22.
  9. ^ "Money Transfer Process – Sending and Receiving Money". Global Money Transfer. 2013-09-24. Retrieved 2017-05-22.
  10. ^ "AXA Affin General Insurance Berhad and Merchantrade Asia offer insurance protection for migrant workers". www.malaysian-business.com. Retrieved 2018-12-26.
  11. ^ a b "Archived copy" (PDF). Archived from the original (PDF) on 2017-11-07. Retrieved 2017-05-03.{{cite web}}: CS1 maint: archived copy as title (link)
  12. ^ "Merchantrade target RM4.1b remittance transactions in 2015". The Star Online. 2015-05-11. Retrieved 2019-12-10.
  13. ^ "Call Shop - voip-info.org". www.voip-info.org. 30 July 2011. Retrieved 2017-05-09.
  14. ^ "What is VOIP". www.voip-info.org.
  15. ^ Jayaraman, Premalatha. "Merchantrade eyes expansion". The Sun Daily. Retrieved 2 January 2014.
  16. ^ "How Does a Calling Card Work?". Retrieved 2017-05-09.
  17. ^ "Merchantrade likely to raise RM250m in IPO next year". The Edge Markets.
  18. ^ "Celcom perkenal khidmat kirim wang". BH Online (in Malay). 2015-04-13. Retrieved 2020-08-21.
  19. ^ a b "Merchantrade buys money changer Vital Rate". The Star Online.
  20. ^ "AXA offers protection for migrant workers". Focus Malaysia. Retrieved 2018-12-26.
  21. ^ "Merchantrade takes up 49% stake in M1 unit". The Edge Markets. 2017-10-24. Retrieved 2020-08-10.
  22. ^ "Merchantrade". The RemTECH AWARDS. 2019-05-27. Retrieved 2019-12-09.
  23. ^ "Merchantrade Asia nabs Fintech - Financial Services Award at Malaysia Technology Excellence Awards". Singapore Business Review. 4 December 2019. Retrieved 2019-12-09.
  24. ^ "Merchantrade strengthens its position in Singapore, acquires additional stake in Kliq | New Straits Times". NST Online. 2020-07-23. Retrieved 2020-08-10.
  25. ^ Business, N. S. T. (2020-09-17). "Merchantrade acquires fintech player Valyou | New Straits Times". NST Online. Retrieved 2020-09-28. {{cite web}}: |last= has generic name (help)
  26. ^ "Malaysia's Merchantrade acquires fintech player, Valyou from Telenor Group". Digital News Asia. 2020-09-17. Retrieved 2020-09-28.
  27. ^ "Kenanga Investment Bank Acquires Stake In Malaysia's Largest Money Services Business Operator Merchantrade Asia". Kenanga Group. 2020-10-28. Retrieved 2020-11-05.
  28. ^ Business, N. S. T. (2020-10-28). "Kenanga Investment Bank buys stake in Merchantrade Asia | New Straits Times". NST Online. Retrieved 2020-11-05. {{cite web}}: |last= has generic name (help)
  29. ^ "Kenanga buys stake in Merchantrade | The Star". www.thestar.com.my. Retrieved 2020-11-05.
  30. ^ "Kenanga Partners Merchantrade To Introduce Malaysia's First Stockbroker E-Wallet". Kenanga Group. 2020-09-25. Retrieved 2020-11-05.
  31. ^ "Kenanga, Merchantrade launch stockbroker e-wallet | The Star". www.thestar.com.my. Retrieved 2020-11-05.
  32. ^ "Kenanga, Merchantrade Launch Malaysia's First Stockbroker E-Wallet, Kenanga Money". RinggitPlus. 2020-09-25. Retrieved 2020-11-05.
  33. ^ "Kenanga partners Merchantrade in planned stockbroker e-wallet rollout". The Edge Markets. 2020-09-25. Retrieved 2020-11-05.
  34. ^ "IAMTN Members". IAMTN.
  35. ^ "Legislation | Bank Negara Malaysia | Central Bank of Malaysia". www.bnm.gov.my. Retrieved 2020-11-05.
  36. ^ "Merchantrade Asia: All Vital Rate workers to be retained". FMT.
  37. ^ "New Merchantrade card makes currency exchange a breeze".
  38. ^ "Entrepreneurs: Master of reinvention".
  39. ^ "merchantrade-multi-currency-card-tops-stiff-local-e-wallet-race". New Straits Times.
  40. ^ "MERCHANTRADE GETS E-KYC NOD FROM BNM FOR MONEY CHANGING".
  41. ^ "Celcom Offers Prepaid Package For Foreign Workers". Bernama. 25 July 2007.
  42. ^ "Here's Why Online Remittance Beats The Traditional Way Of Remittance".
  43. ^ "Merchantrade Asia's eRemit is a catalyst for cashless society".
  44. ^ "Merchantrade Asia's eRemit funds transfer for B2B market to grow on robust demand".
  45. ^ "Interlude: Travelling cash-light". The Edge Markets. 2020-02-04. Retrieved 2020-08-10.
  46. ^ Wednesday, 26 Feb 2020 07:08 PM MYT. "Merchantrade money gets approval to increase e-wallet limit to RM20,000 | Malay Mail". www.malaymail.com. Retrieved 2020-08-10.{{cite web}}: CS1 maint: numeric names: authors list (link)
  47. ^ "Celcom buys a 20% stake in Merchantrade". The Malaysian Reserve. 2017-03-31. Retrieved 2020-12-04.
  48. ^ "Axiata to have digital financial service JV with Merchantrade | The Star". www.thestar.com.my. Retrieved 2020-12-04.
  49. ^ "Kenanga Investment Bank Acquires Stake In Malaysia's Largest Money Services Business Operator Merchantrade Asia". Kenanga Group. 2020-10-28. Retrieved 2020-12-04.
  50. ^ "Kenanga buys a minor stake in money services operator Merchantrade". The Edge Markets. 2020-10-28. Retrieved 2020-12-04.
  51. ^ Business, N. S. T. (2020-10-28). "Kenanga Investment Bank buys stake in Merchantrade Asia | New Straits Times". NST Online. Retrieved 2020-12-04. {{cite web}}: |last= has generic name (help)
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