Moneywave opens new headquarters in central Kuala Lumpur

KUALA LUMPUR: Money services provider Moneywave has opened its new headquarters at Wisma MCA, Jalan Ampang, as it expands its operations beyond traditional currency exchange.

The move marks a new chapter for the company, which began more than three decades ago as a neighbourhood money-changing counter in Pandan Indah, Ampang.

The new premises offer currency exchange and remittance services, as well as solutions for businesses, while Moneywave continues to expand its digital transaction capabilities.

Chief executive officer Aiman Kallahan said the company’s more than 30 years of experience serving customers at physical counters had shaped its approach to the new outlet.

“We spent 30 years learning what people need when they move money. Wisma MCA is where we build the outlet around that, instead of asking customers to fit the counter,” he said.

Moneywave currently operates five outlets across Peninsular and East Malaysia, offering currency exchange and remittance services involving more than 60 currencies.

Its digital platform is being developed to allow customers to initiate certain transactions online before completing them at a physical outlet.

One planned feature will allow customers to lock in an exchange rate through their mobile phones and collect the currency later at a branch.

The company said its customers include foreign workers sending money home, families supporting relatives overseas, students, travellers and small businesses making payments to suppliers or workers abroad.

Moneywave also plans to introduce local payout services for businesses, including payments to international vendors and recipients.

Aiman Kallahan said the shift towards digital transactions had not eliminated the need for customers to have access to physical services.

“Money is becoming increasingly digital, but the need for accessibility and human interaction hasn’t disappeared. Our view is that customers should not have to choose between the two,” he said.

The new headquarters also features a collection of international banknotes belonging to one of Moneywave’s founders. Built up over more than 30 years, the collection began as a hobby linked to his work at the money-changing counter.

The opening ceremony featured a lion dance and firecrackers, followed by a ribbon-cutting ceremony and a tour of the new premises.