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.
As of 2017 Merchantrade operated 84 outlets, 2 main wholesale banknote trading hubs and more than 400 agent locations throughout Malaysia.
Video Merchantrade Asia
History
- Merchantrade was founded by Ramasamy K. Veeran. in 1996 as a telecommunications equipment supplier.
- In 2003 it started to offer discount telephone cards, Voice-over-IP (VOIP) and call shops.
- In 2007 it launched a mobile virtual network operator (MVNO) through a partnership with Celcom Axiata Bhd. Later that year it received a Money Transfer Operator license in Malaysia and launched Merchantrade Express Remittances.
- In 2009 Sumitomo Corporation of Japan invested in the company.
- In 2011 it Launched its eRemit online money transfer portal for individuals.
- In 2012 the company received a Money Services Business (MSB) license and launched a foreign currency exchange business together with an agent network and a mobile remittance platform called Doowit.
- In 2013 it formed money transfer service partnership with MoneyGram. In 2015 it launched an online currency exchange portal and a wholesale currency banknotes services. Later that year it received an investment from Celcom and started a joint venture to form Celcopon (Malaysia).
- In 2017 the company acquired Vital Rate business outlets in Pavilion, Suria KLCC, KL Sentral. It also acquired TG Solutions (Malaysia) and started a joint Venture to form Jetixa (Dubai).
Maps 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).
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.
Digital Payments
The 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 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.
Merchantrade Mobile
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.
Notable shareholders in Merchantrade Asia are Celcom Axiata Bhd and Japan-based Sumitomo Corporation.
References
Source of the article : Wikipedia
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