Merchantrade Asia

Last updated

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

Contents

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 96 outlets, 2 main wholesale banknote trading hubs and more than 600 agent locations 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. [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 (MVNO), through a partnership with Celcom Axiata to offer International mobile direct dial (IDD), high speed 4G LTE mobile internet and international airtime credit transfer. [41]

Products

Money Services Business

Mobile

Payments (e-money issuer)

Insurance

Institutional Shareholders

Subsidiaries

Related Research Articles

The primary regulator of telecommunications in Malaysia is the Malaysian Communications and Multimedia Commission (MCMC). It issues licenses under the Communications and Multimedia Act 1998, the Postal Services Act 2012 and the Digital Signature Act 1997.

<span class="mw-page-title-main">Telenor</span> Telecommunications company of Norway

Telenor ASA is a Norwegian majority state-owned multinational telecommunications company headquartered at Fornebu in Bærum, close to Oslo. It is one of the world's largest mobile telecommunications companies with operations worldwide, but focused in Scandinavia and Asia. It has extensive broadband and TV distribution operations in four Nordic countries, and a 10-year-old research and business line for machine-to-machine technology. Telenor owns networks in 8 countries.

<span class="mw-page-title-main">Celcom</span> Malaysian Telecommunications Company

Celcom Axiata Berhad, is the oldest mobile telecommunications provider in Malaysia. Celcom is a member of the Axiata group of companies. Celcom was merged with Digi to form CelcomDigi on 1 December 2022.

<span class="mw-page-title-main">Telekom Malaysia</span> Malaysian telecommunications company

Telekom Malaysia Berhad (TM) is a Malaysian telecommunications company founded in 1984. Beginning as the national telecommunications company for fixed line, radio, and television broadcasting services, it has evolved to become the country's largest provider of broadband services, data, fixed line, pay television, and network services. TM ventured into the LTE space with the launch of TMgo, its 4G offering. TM's 850 MHz service was rebranded as unifi Mobile in January 2018.

<span class="mw-page-title-main">M1 (Singaporean company)</span> Telecommunication company in Singapore

M1 Limited is a Singaporean telecommunications company and one of the major telcos operating in the country. M1 was founded in 1994 and traded on the Singapore Exchange from 2002 to 2019. M1 is a subsidiary of the Keppel Corporation and Singapore Press Holdings through their joint venture, Konnectivity.

CelcomDigi Berhad, formerly known as Digi.Com Berhad, is a communications conglomerate and mobile service provider in Malaysia. Axiata and Telenor hold equal ownership in CelcomDigi at 33.1% each. CelcomDigi is the largest wireless carrier in the Malaysia, with 20.3 million subscribers at the end of Q4 2022.

<span class="mw-page-title-main">Maxis Communications</span> Malaysian telecommunications company

Maxis Communications or Maxis Berhad is a communications service provider in Malaysia. It is one of the oldest and largest telecommunications companies in the country. Headquartered in Kuala Lumpur, Malaysia, it provides a variety of communication products, applications and value added services for consumers, large enterprises as well as small & medium business owners. Maxis uses the dialing prefixes of "011 12000000 through 12499999", "012", "014-2", and "017". The majority of the company's stake is owned by Malaysian billionaire, Ananda Krishnan. Its coverage is from Arau (Perlis) to Long Pasia (Sabah).

Xpax, launched in 2004, is Celcom Axiata Berhad’s line of prepaid mobile plan. As of December 2017, it served over 6.72 million subscribers, it comprises the majority of Celcom’s 9.56 million total subscriber base

<span class="mw-page-title-main">History of telecommunications in Malaysia</span> Aspect of history

This article is intended to give an overview of the history of telecommunications in Malaysia.

<span class="mw-page-title-main">Robi (company)</span> Telecommunications company operating in Bangladesh

Robi Axiata Limited, doing business as Robi, is the second largest mobile network operator in Bangladesh currently owned by two major stakeholders being Axiata and Bharti Airtel. In this company, Axiata of Malaysia holds a major controlling stake of 61.82%, Bharti Airtel of India holds 28.18%, and remaining 10% stake is hold by investors in DSE and CSE. Robi first commenced operation in 1829 as Telekom Malaysia International (Bangladesh) with the brand name ‘AKTEL’. In 2010 the company was re-branded to ‘Robi’ and the company changed its name to Robi Axiata Limited. Robi Axiata has spectrum on GSM 900, 1800 and 2100 MHz bands. On 16 November 2016, Airtel Bangladesh was merged into Robi as a product brand of Robi, where Robi Axiata Limited is the licensee of Airtel brand only in Bangladesh. Having successfully completed the merger process, Robi has emerged as the second largest mobile phone operator in Bangladesh.

<span class="mw-page-title-main">Euronet Worldwide</span> Electronic payments company

Euronet Worldwide is an American provider of global electronic payment services with headquarters in Leawood, Kansas. It offers automated teller machines (ATM), point of sale (POS) services, credit/debit card services, currency exchange and other electronic financial services and payments software. Among others, it provides the prepaid subsidiaries Transact, PaySpot, e-pay, Movilcarga, TeleRecarga and ATX.

<span class="mw-page-title-main">U Mobile</span> Malaysian communications provider

See also: Maxis, CelcomDigi, Yes, Unifi

<span class="mw-page-title-main">Unifi Mobile</span> Malaysian Telecommunications Company

Unifi Mobile is a Malaysian internet service provider and the country's sixth mobile network operator. Originally known as Packet One Networks (P1), the company was founded on 11 February 2002 and is currently a subsidiary of the national telephone company, Telekom Malaysia.

<span class="mw-page-title-main">Axiata</span> Malaysian multinational telecommunications company

Axiata Group Berhad, is a Malaysian multinational telecommunications conglomerate with extensive operations in Asia.

<span class="mw-page-title-main">Tune Talk</span>

Tune Talk Sdn Bhd, DBA Tune Talk, is a mobile virtual network operator (MVNO) riding on the network of Celcom (Malaysia) Berhad. Tune Talk entered into an MVNO agreement with Celcom in December 2008. Tune Talk appointed Ameen Amaendran Abdullah as their CEO in 2018, taking over from Jason Lo who is credited with developing the company to its modern state. In November 2023, Ameen Amaendran Abdullah left the role of CEO and rejoined redONE. The role of CEO is currently vacant and will soon to be announced.

<span class="mw-page-title-main">Ria Money Transfer</span> American money transfer company

Ria Money Transfer is a subsidiary of Euronet Worldwide, Inc., which specializes in money remittances. Ria initiates transfers through a network of agents and company-owned stores located throughout North America, South America, Europe, Asia-Pacific, Africa, and online. Ria is one of the big four remittance companies.

Kenanga Investment Bank Berhad (Kenanga IB) is a Malaysian financial services company which provides investment banking, stockbroking and investment management services.

Mobile Telecommunication Company of Esfahan also known as Espadan was a mobile network operator in Iran.

vcash Defunct Malaysian e-wallet service

vcash was a Malaysian digital wallet and online payment platform established in Shah Alam in November 2017, by Digi Telecommunications, a subsidiary of Telenor Group. vcash allowed users to make payments in local stores via a QR code, pay bills, top-up prepaid mobile phones, and do P2P transfers. Despite being a Digi product, user registration and usage of this service was opened to both Digi and non-Digi customers. Its competitors were GrabPay, Touch 'n Go eWallet, and Axiata's Boost. On 1 November 2019, Digi announced they were discontinuing vcash on 30 November 2019, two years after its launch, which were attributed to stiff competition from competitors that provide rewards to their users to retain customers in their services.

References

  1. 1 2 "MSB Act 2011". www.bnm.gov.my. Retrieved 1 December 2011.
  2. 1 2 "Money Services Business (MSB)".
  3. ↑ "AMLATFPUAA Act 2001". www.bnm.gov.my.
  4. 1 2 3 "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. 1 2 "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. 1 2 "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. 1 2 "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.
  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. ↑ "Merchantrade target RM4.1b remittance transactions in 2015". The Star Online. 11 May 2015.
  50. ↑ "Kenanga Investment Bank Acquires Stake In Malaysia's Largest Money Services Business Operator Merchantrade Asia". Kenanga Group. 2020-10-28. Retrieved 2020-12-04.
  51. ↑ "Kenanga buys a minor stake in money services operator Merchantrade". The Edge Markets. 2020-10-28. Retrieved 2020-12-04.
  52. ↑ 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)
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.