KUALA LUMPUR, Malaysia, Oct. 20, 2020 /PRNewswire/ — Malaysia’s largest Money Services Business (MSB) operator, Merchantrade Asia Sdn Bhd (Merchantrade) has entered into a partnership with Ant Group, the leader in the development of open platforms for technology-driven inclusive financial services.
The collaboration allows customers of Merchantrade in Malaysia and Singapore to facilitate real-time remittances to Alipay users in China, with funds reaching bank accounts linked to their Alipay app. Alipay is operated by Ant Group and currently serves more than one billion users.
The service is now available at Merchantrade’s 81 branches and over 450 of its agent locations in Malaysia. It is also available on Merchantrade’s award-winning remittance mobile app, eRemit Malaysia and soon will be available on Merchantrade’s e-wallet, Merchantrade Money as well as at Merchantrade’s Singapore-based subsidiary, Kliq Pte Ltd, on its eRemit Singapore mobile app.
The partnership aims to bring more innovative and convenient financial services to Merchantrade’s customers in Malaysia and Singapore. It will also expand to allow Merchantrade customers to remit funds to persons in the Philippines, Pakistan, Bangladesh and Indonesia, through Ant Group’s partners in these markets.
“As a leading MSB operator and international remittance hub provider, we continuously explore new ways to apply our technology and connect with partners to make financial services more inclusive, especially for the underserved globally, particularly in Asia, where we have a foothold in the remittance market through local partners,” said Ramasamy, Founder and Managing Director of Merchantrade Asia. The company has built an ecosystem of relevant financial services through industry partnerships and collaborations and continue to welcome future partnership opportunities to enrich the lives of our customers.
About Merchantrade Asia
Merchantrade is Malaysia’s largest Money Services Business (MSB) operator and leading money transfer, e-money issuer, retail and wholesale foreign currency exchange service provider. Leveraging on its technology, omnichannel capabilities and global network reach, Merchantrade aims to provide consumers with easy access to a secure, reliable and fast channel for global currency exchange, money transfers, and digital payments.
Merchantrade has developed multiple award-winning digital products and has established a network of 81 branches and over 450 agent locations throughout Malaysia.