Green Packet Unit, Rural Capital to Explore White-Label Digital Wallet Solution; Shares Rally 20%
Green Packet (KLSE:GPACKET) unit Kiplepay signed a memorandum of understanding with business financial firm Rural Capital to explore a potential tie-up in the development of a white-label digital wallet product, according to a Thursday Malaysian bourse filing.Shares of Green Packet jumped 20% in Friday's midday trade.A white-label digital wallet is a ready-made payment application developed by a third-party provider that businesses customize and offer as their own.The proposed collaboration aims to develop a broader digital payments ecosystem, including analytics, digital identity tools, disbursement systems, loyalty programmes, e-invoicing, and other digital services.Kiplepay, an approved e-money issuer under Bank Negara Malaysia, will contribute its fintech and payment infrastructure capabilities, while Rural Capital brings financing and institutional support expertise.The MOU is non-binding and will run for two years unless terminated earlier, the filing said.
