What Valyou does

Valyou is a Malaysian mobile financial services platform operated by Merchantrade Asia Sdn Bhd, a privately held, Bank Negara Malaysia-licensed money services business founded in 1996 and headquartered in Petaling Jaya. The Valyou mobile wallet — acquired by Merchantrade in 2020 — sits at the center of a multi-product financial inclusion ecosystem that targets underserved migrant workers in Malaysia and the employers who pay them, alongside individual Malaysian consumers seeking currency exchange and international transfers. The company runs a hybrid physical-and-digital distribution model comprising 97 currency exchange outlets, 400+ agent locations across duty-free zones and shopping malls, and the Valyou mobile app (available on Google Play Store), supplemented by B2B2C employer partnerships and integrations with MoneyGram, Western Union, Visa, and PERKESO (Malaysia's social security organization).

The underlying technology stack is a mobile e-wallet platform with multi-currency support, QR payment infrastructure, Visa prepaid card integration, and an employer-facing digital payroll portal that disburses wages directly into migrant worker e-wallets. Core products include Valyou Mobile Wallet (P2P transfers, bill payments, mobile top-ups, international remittance), the Merchantrade Money Visa Prepaid Card (21 currencies, global ATM access), eRemit (Malaysia's first non-bank online remittance portal, launched 2012), Merchantrade eForex (wholesale digital currency exchange, launched 2015), Merchantrade Insure (micro-insurance for foreign workers, 189k+ policyholders), and HelloSIM (mobile connectivity for underserved segments). Merchantrade holds BNM MSB License Serial No. 00344 and is an approved Designated Payment Instrument issuer for both Peninsular Malaysia (since August 2024) and Sabah (effective December 2025), positioning digital wage payments as a regulated, structurally protected service line.

Valyou/Merchantrade generates revenue primarily through transaction fees: spreads and commissions on international remittance (counter and digital eRemit corridors), currency exchange margins across its 97 outlets and 400+ agent locations, prepaid card transaction and FX revenue across 21 currencies, and transaction fees on digital payroll disbursements. Digital payroll gross transaction value crossed RM3.6 billion as of June 2025, with a stated target of RM5 billion for 2025. The company has raised strategic equity from Sumitomo Corporation Japan (2009), Celcom Axiata Berhad (2014), and Kenanga Investment Bank Berhad (2020), and reports serving 3 million+ underserved customers with billions in cumulative transactions across its 29-year operating history.

Name

Valyou

Legal name

Merchantrade Asia Sdn Bhd

Website

https://valyou.com.my

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

251–500 employees

Short description

Valyou is the mobile wallet subsidiary of Merchantrade Asia, a Malaysian-licensed money services business offering international remittance, currency exchange, multi-currency prepaid cards, and digital wage payments primarily for underserved migrant workers and their employers.

Ownership category

akta.pro rank

Product category

Mobile Financial Services & Remittance

NAICS

Finance and Insurance (52)

SIC

Finance Services (6199)

akta.pro primary industry

Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)

akta.pro secondary industries

International / Multi-Currency Wallets (FSAMAEAL), Cross-border/Remittance Neobanks (FSABAFAH)

Keywords

• Mobile money transfers
• International remittance services
• Digital wallet payments
• Currency exchange services
• Digital payroll solutions

Headquarters

HQ city

Kuala Lumpur

HQ country

Malaysia

HQ region

Asia

Offices8 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. International Remittance Services: Revenue from money transfer fees charged to customers sending money internationally. Services include counter money transfer and digital eRemit transfers.
2. Currency Exchange: Revenue from currency exchange spread/margin on transactions across 97 outlets and 400+ agent locations, including counter rates and digital prepaid card rates.
3. Prepaid Card Services: Revenue from Merchantrade Money Visa Prepaid Card, a multi-currency travel card with 21 currencies
4. Digital Payroll Services: Digital wage payment services for employers managing foreign workers, enabling direct salary disbursement to e-wallets
5. Mobile Prepaid & Bill Payments: Revenue from mobile top-ups and bill payment transactions processed through the Valyou wallet

Go-to-market motion3 records

Distribution channels6 records

Marketing channels5 records

Core offering

Valyou is a Malaysian mobile financial services business providing a multi-currency mobile wallet, international remittance, peer-to-peer transfers, bill payments, and mobile prepaid top-ups to underserved consumers, particularly migrant workers. As the consumer-facing wallet brand of Merchantrade Asia Sdn Bhd, Valyou is paired with Merchantrade's broader ecosystem of physical currency exchange and money transfer counters, the eRemit online remittance portal, a multi-currency Visa prepaid card, and an employer-facing digital payroll portal for foreign worker wage disbursement.

Product overview

Merchantrade operates a multi-product financial services ecosystem focused on financial inclusion for underserved communities in Malaysia. The core offerings include the Valyou Mobile Wallet for mobile payments and remittances, alongside traditional money services such as Currency Exchange and Money Transfer through a vast physical network of 97 outlets and 400+ agent locations. The digital portfolio extends to eRemit (online remittance), Merchantrade eForex (digital currency exchange), and the Merchantrade Money Visa Prepaid Card (multi-currency card supporting 21 currencies). Supporting services include Insure (micro-insurance for foreign workers) and HelloSIM (mobile services). The company serves both individual consumers and businesses through personal and business segments, enabling international remittances, currency exchange, bill payments, and mobile top-ups.

Differentiator

Problem solved

Functional benefit

Brands

• Valyou Mobile Wallet: Licensed Malaysian mobile financial services app for international remittance, peer-to-peer transfers, bill payments, and mobile prepaid top-ups.
• Merchantrade Money Visa Prepaid Card
• eRemit
• Merchantrade Insure
• HelloSIM
• Merchantrade eForex

Products and services

• Valyou Mobile Wallet Licensed Malaysian mobile financial services app that enables users to store, send and receive money in multiple currencies, perform peer-to-peer transfers, pay bills, top up mobile prepaid, send international remittances, and conduct cash-in/cash-out transactions. Targeted at unbanked and underserved consumers, particularly migrant workers in Malaysia.
• Currency Exchange Counter-based currency exchange service offering competitive rates 365 days a year through 97 outlets and 400+ agent locations in duty-free zones, travel agents, luxury hotels and major shopping malls across Malaysia.
• Money Transfer Counter-based international money transfer service enabling customers to send money overseas through physical branches, leveraging MoneyGram and Western Union networks to reach 200+ countries and territories.
• eRemit Online Remittance Portal First non-bank online remittance portal in Malaysia, enabling customers to send money internationally through digital channels with competitive rates and convenient online access.
• Merchantrade Money Visa Prepaid Card Multi-currency Visa prepaid travel card that lets users buy, store and sell 21 currencies, spend in local currency overseas, save on conversion fees, and access cash via ATMs on the Visa network globally.
• Merchantrade eForex Online digital currency exchange platform launched in 2015 for wholesale currency business, enabling digital currency trading with competitive rates.
• Insure (Micro-insurance) Micro-insurance product launched in 2018 providing fast and simple foreign worker protection that reduces the financial burden of employers, part of the financial inclusion ecosystem.
• HelloSIM Mobile SIM card and value-added services offering digital connectivity for underserved segments, providing access to a good mobile network and data services.
• Merchantrade Digital Payroll Portal (Designated Payment Instrument) Employer-facing digital payroll portal enabling companies employing foreign workers in Malaysia to disburse wages digitally directly into employees' Valyou e-wallets, with regulatory approval as a Designated Payment Instrument issuer for Peninsular Malaysia and Sabah.

Quantifiable outcome

• Over 3 million underserved customers served with secure remittance services
• +3 more outcomes

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature7 records

Partnerships

Nine partnerships are on record, tiered minor and core.

• UiTMminorStrategic or Co-development Partner · 1 January 2023Memorandum of Understanding with UiTM in 2023 for education and research collaboration.
• Kota Buku Digital MalaysiaminorStrategic or Co-development Partner · 1 January 2023Partnership with Kota Buku Digital Malaysia in 2023 for digital book initiatives.
• Valyou (Acquisition)coreStrategic or Co-development Partner · 1 January 2020Merchantrade acquired Valyou in 2020, expanding its mobile wallet and digital payment capabilities.
• MoneyGram InternationalcoreTechnology or Integration · 1 January 2013Partnership with MoneyGram International started in 2013 for international remittance services.
• Celcom Axiata Berhad (MVNO)minorStrategic or Co-development Partner · 1 January 2007Launched mobile virtual network provider (MVNO) partnership with Celcom Axiata Berhad in 2007.
• MoneyGramcoreTechnology or IntegrationMerchantrade offers MoneyGram international money transfer services enabling customers to send money to 200+ countries and territories for cash pickup at MoneyGram service locations or direct bank account transfers.
• Western UnioncoreTechnology or IntegrationMerchantrade provides Western Union money transfer services at service provider locations across Malaysia, enabling international money transfers with various service options including regular transfers, next day/2 day transfers, and account-based transfers.
• VisacoreTechnology or IntegrationVisa card network partnership for Merchantrade Money Visa Prepaid Card enabling multi-currency spending in 21 currencies and ATM access globally.
• PERKESO (Social Security Organization)coreStrategic or Co-development PartnerMerchantrade works with PERKESO to deliver social security protection payments directly to employees through digital wage solutions, ensuring faster and better financial transparency.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Western Union: Global incumbent in cross-border money transfer with the largest physical agent network worldwide. Directly comparable in remittance and currency exchange, and is also a Valyou/Merchantrade partner — competitive overlap is partial given Western Union's global scope versus Valyou's Malaysia-centric footprint.
• MoneyGram: Global money transfer incumbent with extensive agent network across 200+ countries. Comparable in remittance infrastructure and reach, and is also a Valyou/Merchantrade partner — overlaps in core cross-border transfer use case, with broader global reach.

Emerging players

• Revolut: Global multi-currency digital wallet and remittance app. Comparable in multi-currency wallet functionality and cross-border payments, with significant overlap in the migrant-worker customer persona, though Revolut's primary market remains Europe.

Regional players

• GCash: Philippines' leading mobile wallet and remittance app, deeply embedded with OFW (overseas Filipino worker) corridors. Comparable as an Asian e-wallet optimized for migrant remittance, but serves Philippines-origin rather than Malaysia-domiciled migrant workers.

Direct peers

• Wise (TransferWise): Global cross-border remittance and multi-currency wallet platform. Directly comparable to Valyou/Merchantrade's eRemit and Merchantrade Money Visa Prepaid Card in providing low-cost, multi-currency international money transfer, though Wise is digital-only and serves a higher-income, smartphone-native customer base.
• Payoneer: Cross-border payments platform for businesses and freelancers in emerging markets. Comparable in multi-currency accounts and international payouts, though Payoneer is SMB/freelancer-focused versus Valyou's consumer migrant-worker focus.
• Touch 'n Go eWallet: Malaysia's leading domestic e-wallet, with deep consumer brand recognition and broad merchant acceptance. Directly comparable as a Malaysian mobile wallet, but Touch 'n Go focuses on consumer payments and retail QR rather than remittance and migrant-worker payroll.
• Boost: Malaysian e-wallet operated by Axiata/RHB, targeting consumer payments and financial inclusion. Comparable as a domestic mobile wallet competitor, with overlapping unbanked-segment ambitions but less focus on cross-border remittance and migrant payroll.
• Remitly: Digital remittance specialist targeting migrant workers sending money from developed markets to emerging-market corridors. Closely comparable to Valyou's migrant-worker remittance use case, though Remitly operates primarily in US/UK-to-EM corridors rather than intra-Asia.
• WorldRemit: Digital cross-border money transfer platform serving migrant and diaspora customers globally. Comparable in digital remittance, multi-currency payout, and mobile wallet functionality, with overlapping target customers in emerging Asia corridors.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@MerchantradeOfficial
• Facebookfacebook.com/locations
• LinkedInlinkedin.com/company/merchantradeasia
• TikToktiktok.com/@mtradeasia
• Xx.com/valyoumalaysia

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Valyou