KUALA LUMPUR: Merchantrade Asia Sdn Bhd (Merchantrade) has partnered with the largest regional bank in East Java, Indonesia PT Bank Pembangunan Daerah Jawa Timur Tbk (Bank Jatim) to boost remittance payout service access to Indonesia for its customers in Malaysia.
The partnership, which was Bank Jatim's first international partnership with Merchantrade, is aimed at enabling customers in Malaysia to enjoy more security and convenience of sending money back home to their loved ones in Indonesia.
Merchantrade managing director Ramasamy K Veeran said the partnership signified its commitment to drive financial inclusion by making cross-border remittance easy especially for workers who originated from East Java and were in Malaysia.
"Bank Jatim is able to tap our extensive infrastructure including huge branch networks all over Malaysia, providing high accessibility to Indonesian migrants seeking to transfer money abroad using the JConnect Remittance service," he said.
He added that Merchantrade looked forward to more partnerships in Indonesia and other countries with a strong focus on increasing access and convenience in remittance payments as the company solidified its position as the largest money services business in Malaysia.
Bank Jatim commercial and corporate director Edi Masrianto said the pact was cemented by a mutual understanding of how digital remittances can have a seismic impact on driving sustainable development.
"Hence, we pride ourselves by working with like-minded partners to deliver social impact at scale.
"Together with Merchantrade, we aim to make remittances more convenient and accessible for everyone," he said.