Money: Malaysian Oil Palm Plantations To Go Cashless
LintraMax, a provider of oil palm plantation management solutions, and Merchantrade Asia have partnered to provide digital payment solutions for oil palm plantations across Malaysia.
In a statement, the company said the partnership was part of their mission to digitise plantation operations and provide a cashless ecosystem to the industry.
“Payroll processing at plantations is the main pain point that we are trying to address through this partnership,” LintraMax founder and managing director Khor Kheng Khoon said.
“Currently, many plantations still rely on cash and cheques to pay employee wages every month.
“These methods are not the most efficient or safest, so LintraMax hopes to turn these methods of wage payment into digital, such as through the use of digital wallets,” he added.
In this partnership, both companies will introduce Merchantrade’s digital payment solutions to oil palm plantations that are currently using the Quarto plantation management system from LintraMax.
They will also reach out to the plantations’ workers to introduce them to Merchantrade Money, a digital wallet from Merchantrade.
Merchantrade’s founder and managing director Ramasamy K Veeran said the digital payments adoption will benefit plantation companies as well as directly impact workers’ daily lives by encouraging the digital experience.
“Through the Merchantrade Money e-wallet app, workers will receive their wages and get greater access to digital payments allowing for easier cashless purchase of provisions as well as sending money back home.
“Migrant workers would find our digital wallet solution ideal because it already comes in multiple languages,” he added.
There are currently about 100 plantation companies around the country that use the Quarto plantation management system developed by LintraMax.
“Digital wages payment solutions can help companies reduce risks associated with using or having cash.
“The solutions can also help minimise physical contact during the COVID-19 pandemic and ensure transparency in the company’s payroll,” Khor added.
He said the company hopes that this initiative will open doors to more collaborations in digitising the plantation ecosystem in Malaysia.