PETALING JAYA: GREEN PACKET BHD’s unit is tying up with Bank Islam Malaysia Bhd to offer e-payment and cashless payment services in universities and higher learning institutions in the country.
Green Packet said its wholly owned subsidiary, KiplePay Sdn Bhd, had entered into a strategic collaboration with Bank Islam to empower the cashless communities, particularly in the education sector, and support the huge growth in payments for the e-commerce industry.
“In this collaboration, KiplePay is a fintech innovation partner to Bank Islam in providing a better user experience to its customers through new technology initiatives,” KiplePay CEO Tan Kay Yen said in a statement.
“As a start, KiplePay will introduce a new payment channel for Bank Islam via QR, the ability to do mobile reloads as well as in-app marketing to users,” he added.
KiplePay, which is a licensed Bank Negara e-wallet issuer, was the first to launch the cashless community in Universiti Utara Malaysia.
According to Tan, by the end of this year, the group would have another three to five universities using its programme.
Bank Islam CEO Mohd Muazzam Mohamed said the group’s partnership with KiplePay was a testament to the bank’s transformation to becoming a digital Islamic bank of choice by end-2021.
“From this collaboration, Bank Islam is expected to increase its focus on growing its fee-based income and illustrate its appetite to work alongside financial technologies.
“Ultimately, we are creating partnerships that are aimed at enhancing customer experience and further drive the country’s cashless society and financial inclusion agenda,” he said.