Malaysia's Instapay partners with Mastercard for e-wallet offering

They are targeting 100,000 users in the first year of launch.

Malaysian fintech initiative Instapay Technologies has partnered with Mastercard to offer e-wallet accounts linked to a card and remittance services in Malaysia, an announcement revealed.

Using an Instapay e-wallet account, employers will be able to pay salaries to their foreign migrant workers digitally. Wage digitisation offers the additional opportunity for business owners to boost efficiency in their payroll system by reducing cash handling costs and eliminating downtime from worker queues at remittance outlets on pay day.

“We’re focused on bridging the gap in the segment and are targeting 100,000 users in the first year of the launch,” shared Rajnish Kumar, co-founder and CEO of Instapay Technologies.