E-Wallets

Merchantrade Rolls Out Payroll Solutions for Underbanked Plantation Workers

by Fintech News Malaysia June 11, 2021 0 comments

Merchantrade Asia, a digital money services business operator and e-money issuer, has partnered with palm plantation management solutions provider LintraMax in an effort to digitise the payroll for underserved plantations workers.

In this partnership, both entities will reach out to the plantations’ workers to introduce them to Merchantrade Money, a digital wallet from Merchantrade.

Merchantrade said in a statement that digital wages payment solutions can help companies reduce risks associated with using or having cash.

The solutions can also help minimise physical contact during the COVID-19 pandemic and ensure transparency in the company’s payroll.

Through the e-wallet, workers will receive their wages and get greater access to digital payments allowing for easier cashless purchase of provisions as well as sending money back home.

The company added that migrant workers would find its digital wallet solution ideal as it comes in multiple languages.

They will also introduce Merchantrade’s digital payment solutions to oil palm plantations that are currently using the Quarto plantation management system from LintraMax.

There are currently about 100 plantation companies around the country that use the Quarto plantation management system developed by LintraMax.

Khor Kheng Khoon

Khor Kheng Khoon, Founder and Managing Director of LintraMax said,

“Payroll processing at plantations is the main pain point that we are trying to address through this partnership. Currently, many plantations still rely on cash and cheques to pay employee wages every month.

 

These methods are not the most efficient or safest, so LintraMax hopes to turn these methods of wages payment into digital, such as through the use of digital wallets. This is where Merchantrade’s expertise is crucial for the mission, and we are excited to partner with them.”

Ramasamy K. Veeran

Merchantrade’s Founder and Managing Director Ramasamy K Veeran said,

“We are excited to partner with LintraMax to enable seamless digital experience into their growing ecosystem through our innovative Merchantrade Money e-wallet.

 

We believe that this collaboration is a definite step in the right direction and will indeed benefit the plantation management space and drive digital payments adoption as it not only benefits plantation companies as well as directly impacts workers daily lives by encouraging digital experience”.