Merchantrade Money Biz set to challenge corporate credit cards

Aims to simplify expense management for a wide range of businesses
Claims to be M’sia’s first corporate prepaid card, redefining expense management
Gone are the days of ‘pay & claim,’ where countless hours are wasted with the hassle of stockpiling receipts, mixing personal and work funds, or reimbursement delays increasing the risk to employee finances and good governance.
By digitising and automating old processes, Merchantrade Asia Sdn Bhd (Merchantrade), a leading innovator in digital financial services, unveiled their Corporate Card, Merchantrade Money Biz, which it claims is Malaysia’s first Visa Business Prepaid Card.
This innovative product aims to simplify expense management for a wide range of businesses, spanning from corporations to SMEs, helping them save time, reduce errors, and maintain better control over their finances with an easily scalable solution.
Revolutionising Corporate Expense Management and Payment Solutions Merchantrade Money Biz seamlessly combines three innovative tools: a Visa Business Prepaid Card (with a US$10,600 (RM50,000) limit and unlimited card issuance per company) linked to a multi-currency eWallet, and an expense management portal with functions designed for the modern business.
Ramasamy K Veeran (pic), founder and managing director of Merchantrade, said Merchantrade Money Biz aims to disrupt traditional corporate credit cards issued by banks. Unlike traditional cards reserved for senior executives, Merchantrade Money Biz empowers employees across all levels with corporate prepaid cards. This innovation not only provides employers with robust expense management controls but also offers a viable alternative for companies unable to secure traditional corporate credit cards, ensuring no risk of overspending and interest-free transactions.
Streamlining Global Payments, Multi-Currency eWallet, and Advanced Automation Powered by Visa, the business prepaid card can be used by employees to make payments worldwide, both online and retail, for various company-related expenses. It is also paired with a multi-currency eWallet that allows users to convert up to 20 major foreign currencies with locked-in rates for international payments. The expense management portal, on the other hand, not only automates and digitises business processes, it also provides 100% visibility on all transactions and includes robust controls, enabling finance teams to close books faster.
Roy Choudhury Debarun, head of Commercial and Money Movement Solutions for Regional Southeast Asia at Visa, said: