Kenanga, Merchantrade launch stockbroker e-wallet

From left: Kenanga Investment Bank Bhd chairman, Tan Sri Syed Zainol Anwar Ibni Syed Putra Jamalullail; founder and adviser, Tan Sri Tengku Noor Zakiah Tengku Ismail and group managing director, Datuk Chay Wai Leong at the launch of Kenanga Money, Malaysia's first stockbroker e-Wallet which will be supported by a VISA prepaid card feature.

KUALA LUMPUR: Kenanga Investment Bank Bhd has teamed up with Merchantrade Asia Sdn Bhd (Merchantrade) to introduce Malaysia’s first stockbroker e-wallet, Kenanga Money.

In a joint statement issued on Friday, it said Kenanga Money will be supported by a Visa prepaid card feature.

“As part of Kenanga’s ongoing digitalisation journey, Kenanga Money marks the investment bank’s entry into the cashless payment space, enabling its clients the freedom to easily transfer funds from their stocktrading account into an e-wallet and prepaid card for retail payments, remittance and withdrawals worldwide, ” Kenanga said.

Users will also benefit from the innovative multi-currency function which enables them to buy, sell and store up to 20 foreign currencies at any given time, at Merchantrade’s competitive exchange rates.