Kiplepay, a wholly owned subsidiary of Green Packet, has partnered with Visa to introduce the Kiple Visa Prepaid Card.
The partnership, which was first announced in 2020, has rolled out the prepaid card which builds on Kiple’s Wallet-as-a-Service (WaaS) ecosystem.
The Kiple Visa Prepaid Card will enable customers, such as students, to go cashless while also facilitating enterprises to fast-track their e-payment solutions in response to the growing demand for cashless services.
On the consumer front, the prepaid card is designed to provide customers instant access to over 70 million merchants in over 200 countries and territories, and can be used in retail stores, as well as online and mobile app stores.
Students in particular, will now have the opportunity to own a card that’s linked to their KipleUNI Student ID through Kiple’s e-wallet, which allows them to receive cashback and merchant discounts.
On top of that, students can carry out transactions securely, make cash withdrawals as needed and even spend overseas using a single card.
For enterprises, Kiple offers a white label WaaS solution coupled with the Kiple Visa Prepaid Card, as part of its services as a Visa Principal Licensee.
This solution is best suited for businesses that are looking to create their own e-wallet, while leveraging the Kiple Visa Prepaid Card’s network.
Kiple said that businesses can roll out their e-payment platforms within four months, accelerating five times their speed to market from the usual 24-months lead time.
As a Visa Ready Certified fintech partner, Kiple is also offering businesses prepaid issuing bank identification number (BIN) sponsorships in Malaysia.
This provides businesses a quick and convenient alternative to offer their own Visa Card using the BIN sponsorship from Kiple to their customers without needing to fulfil the Visa Ready criteria.
Ricky Lew, Acting Chief Executive Officer of Kiplepay said,
“We view this strategic partnership with Visa as a concerted effort to reach more Malaysians and are excited to leverage Visa’s merchant acceptance network to better enable our customers in adopting cashless options.
Building on our drive towards delivering seamless solutions for the various segments in Malaysia, these world-class partnerships are a testament to our vision to empower consumers to be a part of the cashless agenda that is also in tandem with the government’s aspirations,”