Bayo Pay (M) Sdn Bhd (Bayo Pay) has developed the Construx Payroll platform, a digital salary disbursement gateway that will benefit all contractors and construction personnel registered with the Construction Industry Development Board (CIDB).
KUALA LUMPUR: Bayo Pay (M) Sdn Bhd (Bayo Pay) has developed the Construx Payroll platform, a digital salary disbursement gateway that will benefit all contractors and construction personnel registered with the Construction Industry Development Board (CIDB).
The local fintech company said Construx Payroll is available at no cost to all contractors and construction personnel and was made as an enhancement part of the CIDB Construction Personnel Registration Card (CIDB Green Card) Enhancement Programme.
“Through the platform, construction companies can now pay salaries directly to their employees into its employees’ CIDB Green Card and Construx Wallet, the platform’s mobile wallet app.
“With the CIDB Green Card and Construx Wallet, employees can make bill payments and purchases online and at any merchants that accept Mastercard,” it said.
CIDB Malaysia chief executive officer Datuk Ahmad ‘Asri Abdul Hamid said the launch of the Construx Payroll digital platform addresses the challenges that construction companies have previously faced in having to pay construction workers’ salaries in cash due to the inability of many foreign workers to open bank accounts.
Additionally, ‘Asri said the platform also provides convenience to those living in remote areas where banks may not be easily accessible.
“The digital sector was the new driver for Malaysia’s economic growth, and CIDB is passionate about implementing this digital transformation plan with local fintech company Bayo Pay,” he said.
Meanwhile, Bayo Pay chief executive officer Aznul Abdullah said the company aims to facilitate all stakeholders and construction personnel through Construx Payroll solutions.
“As CIDB’s exclusive digital partner, we aspire to accelerate the digital transformation of the industry via a continuous introduction of more value-added services, especially in the digital payment space,” said Aznul.
On top of the payment features, amongst the new features in Construx Wallet are the CIDB-related functions, namely CIDB E-ID, site attendance, online training and e-report for site incidents.
In partnerships with leading digital players, more value-added services such as remittance, microfinancing and wealth management will also be introduced as part of the features on Construx Wallet soon.
Through the CIDB Green Card, employees would also be able to make cash withdrawals at any ATMs that accept Mastercard globally.
Those who have no access to mobile wallets can alternatively access the Construx Portal, an online web portal for account balance details.
Source : New Straits Times
