Merchantrade partners Bank Jatim – largest regional bank in East Java

  • Boost remittance payout service to Indonesia for its customers in Malaysia
  • Merchantrade looks to more partnerships in Indonesia and other countries

Ramasamy K Veeran, Founder and Managing Director of Merchantrade (far right) at the event ceremony.

Merchantrade Asia Sdn Bhd announced, yesterday, a partnership with PT Bank Pembangunan Daerah Jawa Timur Tbk, (Bank Jatim), the largest regional bank in East Java, Indonesia in a move that will boost remittance payout service access to Indonesia for its customers in Malaysia.

The Bank Jatim’s first international partnership with Merchantrade, officially launched in conjunction with Bank Jatim’s 61st anniversary, is aimed at enabling customers in Malaysia to enjoy more secure and convenience of sending money home to their loved ones in Indonesia.

The Governor of East Java, Ibu Hj. Khofifah Indar Parawansa, was present at the event, accompanied by management from Bank Jatim and Ramasamy K Veeran (pic), Founder and Managing Director of Merchantrade.Merchantrade partners Bank Jatim – largest regional bank in East Java

During the event, a live remittance transaction was conducted between a daughter in Surabaya and her parents who are Indonesian’s working in Malaysia. The money transfer was successfully completed within seconds.

Ramasamy said it was an honour to work with Bank Jatim, signifying his commitment to drive financial inclusion by making cross-border remittance easy especially for workers who originate from East Java working in Malaysia.

“Through the partnership, Bank Jatim is able to tap our extensive infrastructure including branch networks all over Malaysia, providing high accessibility to Indonesian migrants seeking to transfer money abroad using the JConnect Remittance service,” he added.

“We are pleased to be in partnership with Merchantrade, a move that is cemented by a mutual understanding of how digital remittances can have a seismic impact on driving sustainable development, something that sits at the heart of our business,” said Pak Edi Masrianto, Commercial & Corporate Director of Bank Jatim.

“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”.

“We are grateful to be part of Merchantrade’s international expansion journey and are looking forward to see this partnership grow,” added Edi Masrianto

Merchantrade is looking to more partnerships in Indonesia and other countries with a strong focus on increasing access and convenience in remittance payments as the company solidifies its position as the largest money services business in Malaysia.


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