Merchantrade Asia Sdn Bhd has received statutory recognition to disburse foreign worker wages digitally across Sarawak, following the publication of the Labour (Recognized Approved Issuer of a Designated Payment Instrument) (Sarawak) Order 2026. The mandate is effective from 1 August 2026 to 31 July 2029. With this recognition, the comapny holds statutory approvals across Peninsular Malaysia, Sabah, and Sarawak.
Merchantrade Digital Payroll Now Active Across All Malaysian Regions
Merchantrade operates as a Malaysian-incorporated Money Services Business Provider and e-Money Issuer. Its Merchantrade Payroll portal is currently used by over 3,000 employers nationwide (including 40 publicly listed companies) for monthly wage crediting. Disbursements are made via DuitNow, instant bank transfers, or direct transfers to workers’ Merchantrade Money e-wallets.
The Sarawak mandate covers wage disbursement in remote sites including Miri, Bintulu, Sibu, and Kapit, where manual cash payroll has historically incurred security risks and transit costs of up to 6% of cash budgets. Digital disbursement generates automated ESG audit trails and aligns with Sarawak’s Post COVID-19 Development Strategy 2030 (PCDS 2030) cashless economy objectives. The platform targets financial access for foreign workers, estimated at 45% of Malaysia’s foreign worker population, who are employed across labor-intensive industries.
Through the Merchantrade Money e-wallet and a physical Visa prepaid card, workers have access to 24/7 cross-border remittances via its global remittance network, cashless spending at POS terminals, QR and mobile tap payments, and cash withdrawals at Visa ATMs. The platform also supports direct payouts for PERKESO (SOCSO) social security claims and offers micro-insurance coverage starting from RM1 per month through Merchantrade Insure, underwritten by MCIS.
Merchantrade manages its Sarawak operations through a Regional Operations Hub in Kuching, which handles customer onboarding, compliance, and B2B portal integrations. The hub is supported by a network of authorized agents across the state. The company has previously supported local cashless initiatives in Sarawak, including the e-Duit@Serikin project at the Serikin border market.
Pokdepinion: The completion of nationwide digital payroll coverage by a single licensed provider reflects the increasing regulatory appetite in Malaysia for structured, auditable wage disbursement systems for foreign workers.
