KiplePay gets Bank Negara approval to roll out 3 new e-wallet features

TheStar Wed, Jul 21, 2021 08:59pm - 1 week ago View Original

KUALA LUMPUR (Bernama) -- Green Packet Bhd's wholly owned subsidiary Kiplepay Sdn Bhd (KPSB) has received approval from Bank Negara to roll out three new features for its e-money business, which operates the e-wallet ‘kiplePay’.

In a statement today, it said the new features include a new e-wallet limit of RM10,000 in partnership with the largest payment network in the world to issue a scheme prepaid card, coupled with the Electronic Know-Your-Customer (e-KYC).

"The approved e-KYC feature will be able to digitally identify a customer by performing due diligence and risk assessment by analysing the information gathered.

KPSB said it will now be able to issue virtual and physical prepaid cards linked into kiplePay’s e-wallet and enable users to make payments to any merchant both online and offline that accept digital payments.

"kiplePay users will be able to make transactions with a higher e-wallet limit up to RM10,000 by using kiplePay mobile application or the kiplePay prepaid card," it added.

KPSB's acting chief executive officer Ricky Lew said the company aims to be an e-money issuer that can provide a smooth and seamless digital onboarding experience to customers safely and effectively.

"The increased e-wallet limit will also pave the way for new services such as remittance, opening of a salary account and recruiting large merchants," he said.

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