Business
MobilityOne partners with Wibmo
MobilityOne partners with Wibmo.
About this update from Mobilityone Limited
[{"type":"text","content":"\n\nREACH: non-regulatory announcement\n9 May 2023\nMobilityOne Limited\n(\"MobilityOne\", the \"Company\" or the \"Group\")\n \nMobilityOne partners with Wibmo\n \nMobilityOne (AIM: MBO), the e-commerce infrastructure payment solutions and platform provider, is pleased to announce that it has partnered with Wibmo (a PayU company) in Malaysia to support the issuance of Mastercard prepaid cards through its prepaid platform Wibmo Hexa.\n \nWhile this partnership is not expected to have a material impact on the Group's revenue or earnings in the current financial year, with this partnership, Wibmo and MobilityOne are all set to foray into the Malaysian prepaid card market and offer various prepaid programs catering to consumers, corporates, the Government and the Health sector.\n \nBy using Wibmo's feature-rich and API-first prepaid card platform Hexa, MobilityOne will be able to support various prepaid cards like fleet cards, employee/corporate benefits, subsidy cards, gift cards, travelers' cards, and other B2B and B2B2C prepaid solutions. The Hexa platform is equipped to handle key business use cases and comes pre-integrated with Wibmo's proven Access Control Server (ACS) for real-time fraud detection & prevention using its dynamic CNP Risk Engine along with the prowess of EMV 3D secure protocol's built-in features.\n \nThis partnership has been entered into at a time when the Malaysian prepaid card market is expected to record a CAGR of 14.4%, an increase from US$6.06 billion in 2022 to US$10.40 billion by 2026 according to PayNXT360's analysis. MobilityOne has been providing prepaid card solutions to various corporates in Malaysia. With Hexa, Wibmo's API-first prepaid card platform, MobilityOne will support all prepaid form factors, be it a physical, virtual card, or a mobile wallet, as well as many advanced features such as just-in-time funding, deferred authorisation, and others.\n \nWibmos CEO, Suresh Rajagopalan, added, \"We are thrilled to share the news of our collaboration with MobilityOne, as we make our foray into the Malaysian prepaid card market. Our goal is to empower the market with a tech-integrated payment system, and we believe that the time is ripe for disruption. The Hexa platform from Wibmo will serve as the foundation for MobilityOne to offer a variety of Mastercard-based p...