Earlier this week, Merchantrade Asia, a digital money services business operator and e-money issuer, teamed up with palm plantation management services provider LintraMax in order to digitize the payroll system for underserved plantations workers in Malaysia.
Through the partnership, Merchantrade Asia and LintraMax plan to reach out to the plantations’ workers in order to show them the benefits of using Merchantrade Money, a digital wallet offered by Merchantrade.
Merchantrade’s management noted that digital wages payment services may assist firms with lowering the overall risks associated with using or carrying physical cash. The solutions may also help with minimizing or eliminating the need to make physical contact during the COVID-19 health crisis while ensuring greater transparency of company payroll processes.
Through the digital wallet, workers should be able to get their wages and have improved access to virtual payments platforms, which should allow for convenient cashless purchases of provisions as well as being able to send funds back home to friends and family.
The firm further noted that migrant workers will find its online wallet solution ideal or well-suited for their needs as it comes with support in several different languages.
Additionally, they’ll offer the Merchantrade’s digital payment solutions to oil palm plantations that have been using the Quarto plantation management system provided by LintraMax.
At present, there are around 100 plantation firms across Malaysia that are using the Quarto plantation management system offered by LintraMax.
Khor Kheng Khoon, Founder and Managing Director of LintraMax, stated:
“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, remarked:
“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.”