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Merchantrade Asia (Merchantrade) is a financial service company based in Malaysia. The company's business is centered on international money transfers, foreign currency exchange, wholesale banknotes, digital payment processing and mobile telecommunications. [1] They also introduced microinsurance as part of their service offerings. [2]
Merchantrade Asia operates 94 outlets, 5 main wholesale banknote trading hubs, more than 450 agent locations and 480 cash-in and cash-out merchants throughout Malaysia. [3] [4] Its institutional shareholders are Celcom Axiata Bhd, [5] [6] Kenanga Investment Bank [7] [8] and MCIS Insurance Berhad (MCIS Life).
The company was founded in 1996 as a telecommunications equipment supplier in Malaysia.
In 2007, the company offered Merchantrade Mobile, which is a mobile virtual network operator (MVNO) with Celcom Axiata Berhad. [9] It also offered Merchantrade Express Remittances. In 2009, the company obtained an investment from Sumitomo Corporation. [10] It obtained a Class A money services business license in 2012. [11] It later created a mobile remittance platform, Merchantrade Doowit. [12]
It obtained an investment from Celcom Axiata Berhad in 2014. Later, it acquired a 100% stake in Vital Rate Sdn. Bhd., currency exchange outlets in Pavilion, Suria KLCC and KL Sentral, and a 49% stake in Kliq Pte, later 100%. [13] [14] It formed a joint venture with Jetixa (Dubai) in 2017 and a partnership for global money transfer network service with Western Union in 2019. In 2020, it acquired a 100% stake in Malaysian mobile financial services business Valyou Sdn. Bhd. [15] [16] Subsequently, it increased its outlets to 101 locations in Malaysia. It also obtained an investment from Kenanga Investment Bank. [17] [18] [19] The partners were to offer Kenanga Money eWallet [20] [21] [22] [23]
The company formed partnerships with IDEMIA for Digital Onboarding and LintraMax. The MVNO service was moved to its wholly-owned subsidiary, Valyou Sdn Bhd (Valyou).
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 the International Association of Money Transfer Networks (IAMTN). [26] Merchantrade also offers retail and online currency exchange services. Some of the key outlets are located in Suria KLCC and Imago, Kota Kinabalu. [14] [27]
The company offered a non-bank issuer of a multi-currency e-wallet [28] [29] [30] 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. [31]
Its MVNO, through a partnership with Celcom Axiata, offered international mobile direct dial (IDD) 4G LTE mobile internet and international airtime credit transfer. [32]
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![]() | This article contains content that is written like
an advertisement. (November 2023) |
Merchantrade Asia (Merchantrade) is a financial service company based in Malaysia. The company's business is centered on international money transfers, foreign currency exchange, wholesale banknotes, digital payment processing and mobile telecommunications. [1] They also introduced microinsurance as part of their service offerings. [2]
Merchantrade Asia operates 94 outlets, 5 main wholesale banknote trading hubs, more than 450 agent locations and 480 cash-in and cash-out merchants throughout Malaysia. [3] [4] Its institutional shareholders are Celcom Axiata Bhd, [5] [6] Kenanga Investment Bank [7] [8] and MCIS Insurance Berhad (MCIS Life).
The company was founded in 1996 as a telecommunications equipment supplier in Malaysia.
In 2007, the company offered Merchantrade Mobile, which is a mobile virtual network operator (MVNO) with Celcom Axiata Berhad. [9] It also offered Merchantrade Express Remittances. In 2009, the company obtained an investment from Sumitomo Corporation. [10] It obtained a Class A money services business license in 2012. [11] It later created a mobile remittance platform, Merchantrade Doowit. [12]
It obtained an investment from Celcom Axiata Berhad in 2014. Later, it acquired a 100% stake in Vital Rate Sdn. Bhd., currency exchange outlets in Pavilion, Suria KLCC and KL Sentral, and a 49% stake in Kliq Pte, later 100%. [13] [14] It formed a joint venture with Jetixa (Dubai) in 2017 and a partnership for global money transfer network service with Western Union in 2019. In 2020, it acquired a 100% stake in Malaysian mobile financial services business Valyou Sdn. Bhd. [15] [16] Subsequently, it increased its outlets to 101 locations in Malaysia. It also obtained an investment from Kenanga Investment Bank. [17] [18] [19] The partners were to offer Kenanga Money eWallet [20] [21] [22] [23]
The company formed partnerships with IDEMIA for Digital Onboarding and LintraMax. The MVNO service was moved to its wholly-owned subsidiary, Valyou Sdn Bhd (Valyou).
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 the International Association of Money Transfer Networks (IAMTN). [26] Merchantrade also offers retail and online currency exchange services. Some of the key outlets are located in Suria KLCC and Imago, Kota Kinabalu. [14] [27]
The company offered a non-bank issuer of a multi-currency e-wallet [28] [29] [30] 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. [31]
Its MVNO, through a partnership with Celcom Axiata, offered international mobile direct dial (IDD) 4G LTE mobile internet and international airtime credit transfer. [32]
{{
cite web}}
: CS1 maint: archived copy as title (
link)
{{
cite web}}
: |last=
has generic name (
help)
{{
cite web}}
: |last=
has generic name (
help)