Payments giant Visa has teamed up with Malaysian payment firm KiplePay as part of its strategy to expand its services globally.

As part of the agreement, the payment firm has joined Visa’s Fintech Fast Track programme and will now also be able to issue Visa prepaid cards to its customers.

The programme enables fintech partners to create new commerce experiences on Visa’s payments network.

As part of the programme, the partners will work together to provide prepaid cards to merchants and student communities in the country.

Visa Malaysia country manager Kong Boon said: “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.”

KiplePay’s app offers loyalty programmes, mobile discounts, peer-to-peer transfers and a personalised e-wallet for online and offline payments.

The company will boost its e-wallet offerings like money withdrawals and onboard 61 million merchants across 200 countries.

Its customers will also be able to connect their e-wallet services with a physical or virtual card.

KiplePay CEO Kay Tan said: “Once we issue a Visa prepaid card, we are able to leverage on Visa’s global acceptance.

“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.”

Last month, Soft Space became the first fintech firm to join Visa’s Fintech Fast Track programme in Malaysia, followed by KiplePay.