Visa has been expanding its Fintech Fast Track programme in Malaysia to allow fintech companies to gain access to Visa’s network. The programme is part of Visa’s global strategy to open up its network and support a broad range of players that are developing new commerce experiences.
“With KiplePay on board, we can reach out to underserved segments in Malaysia, such as merchant and student communities, and create relevant payment solutions to enable the movement of funds seamlessly and securely,” said Visa country manager for Malaysia Ng Kong Boon.
“This is aligned with our objective and the government’s goal to accelerate the use of digital payments in the country.”
KiplePay CEO Kay Tan said the partnership was an endorsement of KiplePay’s innovative work in the fintech space.
It also enables KiplePay to expand its product and solution offerings.
“Once we issue a Visa prepaid card, we are able to leverage on Visa’s global acceptance. We’re excited to enable both online and offline payments using the 16-digit payment credential for our customers. “As a digital financial services platform provider, KiplePay has always been focused on powering the masses. We have been driving an inclusive cashless agenda across different communities, from instant disbursement of funds for government aid/benefits to powering small merchants and student communities,” said Tan.
KiplePay and Visa will work together to enhance its e-wallet offerings including money withdrawals and access to 61 million merchants in over 200 countries.
Through a spectrum of features such as loyalty programmes, mobile discounts, peer-to-peer transfers and personalised e-wallet, KiplePay customers can make online and offline payments using a single app.
The partnership with Visa will also enable KiplePay e-wallet users and white label customers to tie their e-wallet offerings with a physical or virtual Visa card.
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