Bayo Pay Malaysia a local fintech company has launched a new online money transfer app that will help 600,000 construction workers who are mainly foreigners to send money back to their home.
The Construx payment solutions platform now has an online remittance service which has tied up MaxMoney an online currency exchange service to offer workers with CIDB Construction Personnel Registration Card or CIDB Green Card to perform online money transfer overseas.
With the app, cardholders can perform remittance transactions online, securely and seamlessly to their respective home countries without the need to step into any money exchange outlet of bank counters. According to Chief Executive Officer, Aznul Abdullah the latest product launch is inline with the company’s ambition to be a key player in the implementation of digital payment services in the country. Bayo Pay recently announced the Construx Payroll and Construx e-Wallet as part of the CIDB Green Card Enhancement Programme. These solutions were made available at no cost to construction companies and personnel registered with CIDB. The online remittance service is the latest feature of this application enhancing the use of the CIDB Green Card and the mobile application for cardholders.
MaxMoney with more than 30 years in the remittance business currently allows individual and business customers to exchange and transfer money via its maxmoney.com online platform. Their remittance services covers more than 100 foreign currencies catering to 190 countries across the continents. CEO, A. Abdul Hamid said, “We are pleased to collaborate with Bayo Pay. The Construx mobile application will help more than 600,000 construction personnel especially among foreign workers who wish to send money back home online instantly and safely to their loved ones”.
Moving forward, the Construx mobile application will be further enhanced with more features
that will benefit the cardholders and the construction industry. Bayo Pay offers a platform-based Digital Payment-as-a-Service to their clients via white-labelling the technology and payment system rails needed to offer various financial and non-financial products. The digital remittance service ties in well with its Construx Payroll solution.