Ria Money Transfer, a business segment of Euronet, has received official approval from the Department of Labour Peninsular Malaysia (JTKSM) for the disbursement of digital wage payments via the Ria Wallet. This initiative aims to streamline wage distribution for Malaysia's migrant workforce.
The Ria Prepaid Card Program, developed in collaboration with Mastercard, offers an omni-channel solution for employers who face challenges with conventional banking access for their workers. The Ria Wallet enables various financial activities, including depositing funds, ATM withdrawals, bill payments, and domestic and international transfers.
Migrants constitute an estimated 15.3% of Malaysia's total workforce, with many being unbanked. This program addresses the challenges in the country's cash-centric payment landscape, leveraging Ria's extensive physical network of 624,000 locations worldwide and its presence in nearly 200 countries.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.