Kiplepay Sdn Bhd has announced that the company will now be able to issue Visa prepaid cards and has also joined Visa’s FinTech Fast Track programme.
Visa has been expanding its Fintech Fast Track programme in Malaysia to allow fintech companies to gain access to Visa’s Network.
“With KiplePay coming on board, we can reach out to underserved segments in Malaysia, such as merchants and student communities, and create relevant payment solutions to enable the movement of funds seamlessly and securely. This is aligned with our objective and the government’s goal to accelerate the use of digital payments in the country,” said Ng Kong Boon, Visa Country Manager, Malaysia.
KiplePay’s Chief Executive Officer, Kay Tan said that the partnership is an endorsement of the innovative work being carried out at the company as it also enables KiplePay to significantly expand its product and solution offerings.
“Once we issue a Visa prepaid card, we are able to leverage on Visa’s global acceptance footprint. We’re extremely excited to enable both online and offline payments using the 16-digit payment credential to our customers,” he said.
Both KiplePay and Visa will be working together to enhance its e-wallet offerings including money withdrawals and access to 61 million merchants in over 200 countries.
The partnership with Visa will also enable e-wallet users and white label customers of KiplePay to tie their e-wallet offerings with either a physical or virtual Visa card.
KiplePay is also one of the few fintech partners in Malaysia to facilitate fund disbursements under specific state welfare programmes and has launched a digital platform initiative with the Coalition of Malay Small Traders to help 20,000 merchants and bazaar traders resume their businesses during the Covid-19 pandemic.