Klevo Rewards Clears Regulatory Hurdle to Issue Corporate Cards in 19 Countries
Klevo Rewards (ASX: KLV) has announced that its subsidiary, Fly Wallet Pty Ltd, has received formal certification approval for payment card issuance across 19 international jurisdictions. The Klevo Fly Wallet Multi-Jurisdictional Approval enables the company to proceed with implementation of its technology infrastructure in approved countries spanning four continents.
Fly Wallet secures certification across 19 international markets
The certification represents a regulatory milestone for Klevo’s global expansion strategy, clearing a critical compliance hurdle for payment card issuance. Regulatory approvals are a prerequisite for revenue generation in the payments sector, and this multi-jurisdictional clearance enables Fly Wallet to offer its corporate card programmes to businesses operating in or with these 19 countries.
The approval covers both established financial markets and emerging economies, providing geographic diversity that reduces reliance on any single region. Notable markets within the approved list include the United Arab Emirates, Japan, Republic of Korea, Canada, and Hong Kong SAR.
Approved jurisdictions span four continents
The certification applies to the following regions and countries:
- Asia-Pacific: Republic of Korea, Taiwan, Thailand, Hong Kong SAR, Japan, Palau
- Middle East & Central Asia: United Arab Emirates, Turkey, Israel, Georgia, Kyrgyzstan, Armenia
- Europe: Moldova, Serbia, Romania, Ukraine
- Africa: South Africa
- Americas: Canada, Colombia
This geographic spread positions Fly Wallet to support multinational corporate clients with cross-border payment and loyalty requirements. The approval enables deployment of MasterCard-powered corporate card programmes across diverse regulatory environments simultaneously.
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What is multi-jurisdictional payment card certification?
Payment card issuance requires regulatory approval in each jurisdiction where cards will be issued and used. This certification process confirms that Fly Wallet meets the compliance and technical standards required by card networks such as MasterCard in these markets.
The approval covers the legal and operational requirements necessary to issue payment cards to customers in approved countries. This includes adherence to local financial regulations, anti-money laundering standards, and card network technical specifications.
Regulatory certification represents a barrier to entry that protects established players in the payments sector. Klevo has now cleared this barrier in 19 markets simultaneously, positioning Fly Wallet to compete with existing corporate card providers in these jurisdictions.
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Next steps for Klevo’s global rollout
The announcement states that Fly Wallet will now proceed with implementation of its technology infrastructure in approved countries. This marks the transition from regulatory approval to operational deployment.
The corporate card programme aligns with Klevo’s broader strategy of providing white-labelled loyalty and rewards solutions for corporates. Klevo’s core offering includes White Labelled MasterCard-powered Loyalty Technology, Rewards, Customer Experience and Digital Marketing services.
Klevo’s Service Offering
Klevo Rewards provides customised subscription-based reward and loyalty marketplaces for corporates and consumers. The company’s solutions integrate payment card technology with loyalty programmes and digital marketing services.
Certification represents the first step in revenue generation; operational deployment and client onboarding will follow. Investors should monitor for updates on technology infrastructure rollout and initial corporate client acquisitions in approved jurisdictions.
Company background
Klevo Rewards Limited (formerly My Rewards International Limited) is an ASX-listed global provider of subscription-based reward and loyalty marketplaces. The company operates a B2B model, delivering white-labelled payment and loyalty technology to corporate clients.
The Klevo Fly Wallet Multi-Jurisdictional Approval positions the company to expand its addressable market beyond its existing operational footprint, with 19 countries now available for corporate card programme deployment.
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