Ria Money Transfer, a cross-border money transfer company, has been officially approved by the Department of Labour Peninsular Malaysia to disburse digital wage payments via the Ria Wallet.
By digitally streamlining wage distribution, the Ria Prepaid Card programme, in collaboration with Mastercard, provides an omnichannel solution to employers struggling with conventional banking access for their workforce.
The Ria Wallet enables users to deposit funds, withdraw cash from ATMs, pay bills, and also facilitates domestic and international transfers. Customers can also make payments in millions of locations in Malaysia via QR payment linked to DuitNow.
According to the United Nations-led International Organization of Migration (IOM), Malaysian migrants represent an estimated 15.3 per cent of Malaysia’s total workforce, many of whom are unbanked. The Ria Wallet addresses the challenges faced by both workers and employers in the country’s cash-centric payment landscape.
Espen Kristensen, Ria Money Transfer’s managing director, Asia Pacific, expressed his excitement for the expansion of Ria’s service portfolio in Malaysia: “We understand the challenges employers in Malaysia face when it comes to managing wages for their workers. Through the Ria Wallet, companies will be able to benefit from a digital solution that improves transparency and compliance across their operations.”
The Ria Wallet also streamlines payroll management for Malaysia-based companies throughout industries heavily dependent on migrant workers, including construction, agriculture, and manufacturing.
Having established a presence in Malaysia in 2001, Ria Money Transfer is now considered a trusted provider of money transfer services locally. Leveraging a large physical network of 624,000 locations worldwide and its presence in nearly 200 countries and territories, Ria aims to provide a diverse and seamless service experience to all customers.
In collaboration with Mastercard, the Ria Prepaid Card programme underscores the company’s commitment to driving positive social impact through the financial empowerment of different communities worldwide.
