This article first appeared in The Edge Financial Daily on February 18, 2020
KUALA LUMPUR: Bank Islam Malaysia Bhd and Green Packet Bhd’s wholly-owned Kiplepay Sdn Bhd are planning to roll out Kiplepay’s newly launched KipleUNI programme to another three universities — Universiti Teknologi Mara, Universiti Teknikal Malaysia Melaka and Universiti Putra Malaysia — by the first half of this year (1H20).
To date, the KipleUNI programme is only available at Universiti Utara Malaysia, with 70% of total students using the service.
This follows the memorandum of understanding signed between the two parties in July last year to provide electronic wallet services.
Bank Islam chief executive officer (CEO) Mohd Muazzam Mohamed, during KipleUNI’s launch yesterday, said Kiplepay is geared to fulfil students, universities and merchant partners’ needs via seamless electronic payment transactions and a digital platform.
“Students and users can now link credit or debit cards for direct cashless payments within the universities, as well as [with] other selected merchants outside the campuses.
“Optimistic about its potential, KipleUNI’s take-up is estimated at more than 175,000 university users by end-2020,” said Mohd Muazzam.
Not limited to these universities, Mohd Muazzam said all Bank Islam merchants operating in any public universities are able to enjoy this service almost immediately upon subscription.
Kiplepay is also Bank Islam’s third-party payment processor as well as merchant acquirer, Muazzam added.
Kiplepay CEO Tan Kay Yen said the company is looking to offer the KipleUNI service to private universities, adding that it has reached out to “a few mid-tier private universities”.
There are 680,000 students in public universities and more than 200,000 faculty staff in Malaysia.
Bank lslam and Kiplepay are looking to progressively make the KipleUNI programme available to 50% of campuses, considering the application’s feasibility, and will continuously reach a wider audience as more features are added, according to Kiplepay.