Ria Money Transfer (“Ria”), a subsidiary of Euronet Worldwide that specialises in remittances, has received approval from the Department of Labour Peninsular Malaysia to disburse digital wages to migrant workers via the Ria Wallet.
The initiative is part of Ria’s Payroll Management System and is supported by a Prepaid Card Program developed in collaboration with Mastercard.
The program offers an omni-channel solution to employers who may face challenges with conventional banking access, helping them manage payroll in a secure and compliant way.
The Ria Wallet allows users to deposit funds, pay bills, withdraw cash from ATMs, and make both domestic and international transfers.
It also supports QR payments through DuitNow, enabling transactions at millions of merchants across Malaysia.
According to the International Organisation for Migration, migrants account for about 15.3% of Malaysia’s workforce, many of whom are unbanked.
The Ria Wallet aims to promote financial inclusion among unbanked migrant workers by addressing challenges in the country’s cash-centric payment landscape and offering access to digital financial tools.
Ria has operated in Malaysia since 2001 and is part of a global network spanning over 624,000 locations in nearly 200 countries and territories.
Espen Kristensen, Ria Money Transfer’s Managing Director Asia Pacific, said,
“We understand the challenges employers in Malaysia face when it comes to managing wages for their workers.
Through the Ria Wallet, companies will be able to benefit from a digital solution that improves transparency and compliance across their operations”.
Featured image: (From left) Tuan Roslee Sabaruddin bin Abu, Pengarah Bahagian Perundangan and Perlesenan, JTKSM; Ramesh Chaulagain, Country Manager Malaysia, Ria Money Transfer (RIA); Espen Kristensen, Managing Director Asia Pacific, RIA; Shawn Fielder, President & Chief Executive Officer, RIA
