Merchantrade
 | |
| Private Limited | |
| Industry | Money Services Business |
Key people |
Ramasamy K. Veeran (Founder & Managing Director) |
| Services |
Remittance Money Changing Mobile Virtual Network Operator (MVNO) Wholesale Bank Notes |
Number of employees | 800 (as at 28th Feb 2016) |
| Website | http://www.mtradeasia.com |
Merchantrade is the largest non-banking remittance company in Malaysia.
Merchantrade currently operates 70 branches (69 - Money Changing & Remittance, 1 Wholesale Bank Notes) nationwide and continues to grow.
It has the largest MSB agent network in Malaysia with over 200 agents with more than 330 locations. This accumulates to 48% market share of total MSB Agents nationwide.
Merchantrade is also involved as a mobile virtual network operator (MVNO) to serve the migrant market in Malaysia, providing more choices in voice, data and mobile remittance-related services.
Merchantrade also provides Online Remittance Service (Eremit - http://www.eremit.com.my), Eremit is an award winning Online Remittance Portal by MyClear. Users are able to remit their funds to more than 200 countries and its a server largely used by expatriates in Malaysia.
Merchantrade has recently launched its Online Money Changing Portal (eForex - http://www.eforex.com.my). Using this service, users are able to purchase over 20 foreign currencies anytime via the mobile app or website and collect it at any of the given branches nearest to their location.
Merchantrade is also embarking in future value added services such as Payment Gateway, International Airtime Transfer Services, Mobile Coupon, and other e-money services.
The company is affiliated to Sumitomo Corporation, Japan and Celcom Axiata, Malaysia.