Wibmo, a pioneer in payment security and digital payments, has teamed with MobilityOne in Malaysia to capitalise on the prepaid card market growth. MobilityOne will enable fleet cards, employee/corporate benefits, subsidy cards, gift cards, travellers’ cards, and other B2B and B2B2C prepaid solutions leveraging Wibmo’s feature-rich and API-first prepaid card platform Hexa.
Hexa is pre-integrated with Wibmo’s proven Access Control Server (ACS) for real-time fraud detection and prevention, utilising its dynamic CNP Risk Engine and EMV 3D secure protocol’s built-in capabilities.
This agreement comes at a time when PayNXT360 expects the Malaysian prepaid card industry to grow 14.4% from US$6.06 billion in 2022 to US$10.40 billion by 2026. MobilityOne provides prepaid card solutions to Malaysian corporations.
MobilityOne will support all prepaid form factors, including physical, virtual, and mobile wallet cards, and advanced features like just-in-time financing, delayed authorization, and others, using Hexa, Wibmo’s API-first prepaid card platform.
“We are thrilled to share the news of our collaboration with MobilityOne, as we make our foray into the Malaysian prepaid card market,” said Wibmos CEO Suresh Rajagopalan. We want to empower the market with a tech-integrated payment mechanism. MobilityOne will provide Mastercard-based prepaid goods using Wibmo’s Hexa platform. We want to change the payment card business in Malaysia and Southeast Asia by working together.