The e-wallet had just recorded over three million transactions as of January over a period of around six months, only in the Klang Valley.įollowing what it had achieved with Setel, Tan also hinted at another collaboration with another oil and gas company which currently operates more than 100 petrol stations in Malaysia, to follow soon. Setel is the first fuel e-payment solution in Malaysia, available at more than 700 Petronas stations nationwide. It currently provides e-wallet for business-to-business-to-consumer segments and payment gateway for business-to-business segments.Īnd one of KiplePay’s success stories is the powering of Petronas Dagangan Bhd’s e-wallet, known as Setel. KiplePay has been in the e-wallet scene since 2017, with a deep focus on universities and students’ niche.
WHITE LABEL EWALLET FULL
While this would not only give a full control to improve brand discernibleness and deliver the best user experience, Tan pointed out that it also provided business owners better opportunities to interact with their customers and better anticipate their needs and desires. Tan, who is also an executive director at Green Packet, said such functionalities included a spectrum of mobile payments, discounts, loyalty rewards, P2P money transfer, data top ups and bill payments could be made available in the e-wallet itself. “With Malaysia fast becoming a cashless society, the way for all businesses to go digital is to fulfil an underserved need for a segment and have a relevant e-wallet functionality as an underlayer, ” he said, adding that businesses today needed to think innovatively to create fresh and unique value propositions for specific niches. “With white labelling services, we can enable and facilitate more businesses, be it for an enterprise with a large customer base or small and medium enterprises to launch their own e-wallets.
KiplePay chief executive officer Tan Kay Yen said it is a big win for the company to obtain the approval, which would enable it to propel the nation’s cashless agenda further. To put it simply, white labelling is the process where a company builds a product or technology and licences it out to another company, which labels it as their own product.īusinesses can have their own personalised e-wallet while eliminating the high cost and long lead time of developing an e-wallet from scratch.Ĭoupled with a payment gateway service, the approval will be a thrust to KiplePay’s overall fintech play where it will provide a new revenue stream to Green Packet.īy setting up and managing a mobile app-based payment solution for third parties, the gross transaction value (GTV) is expected to increase by 500% over the next two years. Kiplepay Sdn Bhd, a wholly-owned subsidiary of GREEN PACKET BHD, is the first company to receive the green light from Bank Negara to provide white labelled e-wallet solutions. For further information, see Guiding Principles on Independence and Objectivity.PETALING JAYA: E-wallets are all the rage this year, especially after the government rolled out the e-Tunai Rakyat digital stimulus last month.Īnd amidst the still overcrowded e-wallet sphere in Malaysia, things are about to get a little more interesting with a local fintech player receiving the approval for white labelling services. Its research is produced independently by its research organization without input or influence from any third party. Gartner prides itself on its reputation for independence and objectivity. Your access and use of this publication are governed by Gartner’s Usage Policy. Although Gartner research may address legal and financial issues, Gartner does not provide legal or investment advice and its research should not be construed or used as such. While the information contained in this publication has been obtained from sources believed to be reliable, Gartner disclaims all warranties as to the accuracy, completeness or adequacy of such information. It consists of the opinions of Gartner’s research organization, which should not be construed as statements of fact. This publication may not be reproduced or distributed in any form without Gartner’s prior written permission. Gartner is a registered trademark of Gartner, Inc.
0 kommentar(er)
