TFP rolls out e-wages to boost financial inclusion, workplace efficiency

Developed through its subsidiary SoftFac Technology Sdn Bhd in partnership with MobilityOne Sdn Bhd, a Bank Negara-licensed financial service provider, the platform marked a major advancement in promoting financial inclusion and workforce efficiency in the country. As concerns mount over wage transparency, security and exploitation in traditional cash-based payroll systems, e-Wages was positioned as a comprehensive and secure solution that benefitted both employers and employees. By integrating financial technology, telecommunications and regulatory compliance features, the platform ensured that salary payments were processed on time, traceable and fully compliant with existing labour and banking laws. It eliminates the need for risky, manual methods and creates a system of accountability that supports the fair and consistent payment of wages. e-Wages has been endorsed under the Malaysia Madani Digital Initiative, aligning with the government’s push for a cashless economy and digital transformation. By digitising payroll, the platform not only minimises the risks of fraud and worker exploitation but also improves the accuracy of GDP reporting through properly documented salary transactions. Sectors such as manufacturing, construction, plantations and food and beverage were expected to benefit greatly from this streamlined and transparent payroll solution.