Merchantrade Asia Sdn Bhd has received approval from the MSB Regulation Department of Bank Negara Malaysia (BNM) to implement the electronic Know-Your- Customer (e-KYC).

In the statement, it says that the implementation of e-KYC will be integrated with eRemit, its award winning remittance online portal and mobile app.

With e-KYC, new applicants now have a more convenient way to register with a total digital experience for doing money transfer with eRemit. The integration is expected to go live by early the second quarter this year. 

Merchantrade’s eRemit facilitation online-based remittance services was developed in 2011 and was awarded the Best Remittance Breakthrough Transfers award in 2016.Merchantrade has also attained FPX Top Merchant award in 2013. 

In 2017 Merchantrade’s eRemit has successfully recorded value of around RM700 million in transaction and with the e-KYC, eRemit is expected to double up its transaction value by 2020.

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