Merchantrade Asia is a Money Services Business (MSB), Digital Payment Service (Issuing and Acquiring) and Mobile Virtual Network operator (MVNO) provider, based in Malaysia. The company's core business is centred on international money transfers, foreign currency exchange, wholesale banknotes, digital payment processing and mobile telecommunications. Merchantrade operates 83 outlets, 2 main wholesale banknote trading hubs and has more than 400 MSB agent locations (as of November 2017) throughout Malaysia.
Video Merchantrade Asia
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).
International Money Transfer & Online Money Transfer
"Merchantrade International Remittance Service" is connected to 350,000 payout locations (as of November 2017) in 200 countries and territories worldwide. The service offers Person-to-Person (P2P) and Business-to-Business (B2B) transfers.
The MSB remittance business is operated via:
- 83 Merchantrade Branches
- Agent Networks
- Online (eRemit)
Merchantrade eRemit is an online money transfer service that allows for P2P and B2B transactions for individuals and Small to Medium Enterprises (SMEs) in Malaysia.
Foreign Currency Exchange & Online Money Exchange
Merchantrade 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.
Merchantrade eForex is an online money exchange service that allows registered customers to purchase foreign currencies for their travels online via desktop and mobile app (Android and iOS). The app has features to track and set rate alerts on preferred currencies.
Wholesale Banknote Business
Merchantrade Wholesale Banknote is offered to other money changers and banks in Malaysia to fulfill their sourcing and clearing of banknote requirements.
Digital Payments
Payment Gateway (Acquiring)
Merchantrade Ozopay is an online payment gateway which provides online payment solutions and services for e-commerce merchants. It facilitates complete coverage of payment methods, including credit/debit card and domestic internet banking.
Merchantrade Money Visa Prepaid Card (Issuing)
Merchantrade is an e-money license holder. The company issued a prepaid card, branded as 'Merchantrade Money' in collaboration with Visa. The card is used to store money, make payments and withdrawals. It can be used for money transfer & money exchange services at Merchantrade outlets, participating agents, participating Visa merchants worldwide and other online transactions; online money transfer, online money exchange, bill payments, online shopping, international airtime transfer and card to card transfers. It also links to a mobile app that enables a card holder to view transaction history, check balance and perform online transactions.
Mobile Payments
Merchantrade Mobile is a mobile virtual network operator (MVNO), in partnership with Celcom Axiata to offer International mobile direct dial (IDD), high speed 4G LTE mobile internet and international airtime credit transfer.
Maps Merchantrade Asia
Corporate History
1996
Merchantrade was founded by Ramasamy K. Veeran.
2001
Telecommunications equipment supplier.
2003
Offered discount telephone cards, Voice-over-IP (VOIP) and call shops.
2007
Launched MVNO through a partnership with Celcom Axiata Bhd.
Received Money Transfer Operator license.
Launched "Merchantrade Express Remittances".
2009
Investment by Sumitomo Corporation Japan.
2011
Launched "eRemit", online money transfer portal for individuals.
2012
Received MSB license.
Launched "Money Exchange" service.
Launched "Agent Network".
Launched "Doowit", mobile remittance platform.
2013
Formed money transfer service partnership with MoneyGram International.
2015
Launched "eForex" online currency exchange portal and subsequently released a
mobile application on Android and iOS.
Launched "Wholesale Currency Banknotes".
Investment by Celcom Axiata Bhd
Joint Venture to form Celcopon (Malaysia).
2016
Released "eRemit" mobile application on Android and iOS.
2017
Launched "BizPayments".
Launched "Ozopay".
Acquired Vital Rate business outlets in Pavilion, Suria KLCC, KL Sentral and more.
Acquired TG Solutions (Malaysia)
Joint Venture to form Jetixa (Dubai)
Awards & Achievements
2017 - Winner for Interbank GIRO (IBG) Campaign 2017 by PayNet in the SMEs, Partnerships and Sole Proprietorship category
2017 - The BrandLaureate SMEs Best Brands Award for "Best Brands in E-Commerce, Digital Remittance for Product Branding"
2017 - MAMSB MCX Awards 2017 for "Most Outstanding Customer Experience
2016 - Florin Awards Asia for "Best Remittance Breakthrough Transfers Award" (Community Vote)
2016 - International Association of Money Transfer Networks Award for "Best Retail Money Transfer Operator"
2013 - MyClear 2013 Award for "FPX Top Merchant Award"
2012 - MyClear 2012 Award for "FPX Most Outstanding Merchant (transaction volume)"
Notable shareholders in Merchantrade Asia are Celcom Axiata Bhd and Japan-based Sumitomo Corporation.
References
Source of the article : Wikipedia
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