In this paper, we present the design, development, and validation of a 'modular photoplethysmography (PPG) system called ZenPPG. This portable, dual-channel system has the capability to produce "raw" PPG signals at two different wavelengths using commercial and/or custom-made PPG sensors. The system consists of five modules, each consisting of circuitry required to perform specific tasks, and are all interconnected by a system bus. The ZenPPG system also facilitates the acquisition of other physiological signals on-demand including electrocardiogram (ECG), respiration, and temperature signals. This report describes the technical details and the evaluation of the ZenPPG along with results from a pilot in vivo study on healthy volunteers. The results from the technical evaluations demonstrate the superiority and flexibility of the system. Also, the systems' compatibility with commercial pulse oximetry sensors such as the Masimo reusable sensors was demonstrated, where good quality raw PPG signals were recorded with the signal-to-noise ratio (SNR) of 50.65 dB. The estimated arterial oxygen saturation (SpO 2) values from the system were also in close agreement with commercial pulse oximeters, although the accuracy of the reported SpO 2 value is dependent on the calibration function used. Future work is targeted toward the development of variations of each module, including the laser driver and fiber optic module, onboard data acquisition and signal processing modules. The availability of this system will help researchers from a wide range of disciplines to customize and integrate the ZenPPG system to their research needs and will most definitely enhance research in related fields.