Ride-hailing app Grab has partnered with Indonesian conglomerate to launch an e-money payments platform in Indonesia.
The agreement is an extension of a strategic deal signed between the two companies in March this year.
Ride-hailing app Grab has partnered with Indonesian conglomerate Lippo Group to launch an e-money payments platform in Indonesia.
The universal payments platform will be rolled out at Lippo Group companies and integrated with the Grab app in phases from the fourth quarter of 2016.
Anthony Tan, a Harvard Business School graduate who co-founded Grab in 2012, said: “Grab’s partnership with the Lippo Group to develop a universal payments platform will be a leap forward for e-money in Indonesia. With a rapidly growing middle class, people will want to have a mobile wallet option in the Grab app, which they can use every day, whether for transport, or payments for basic transactions.
“The potential of developing a mobile payments platform in Southeast Asia is limitless. The majority in Southeast Asia are unbanked but are armed with mobile phones. We need to find a cashless solution that helps them manage their money and mobile wallets is one way forward. This partnership with Lippo Group is another step in Grab’s goal to provide a mobile payments solution to millions in our region. We will work with local partners to make cashless transactions a reality for the majority in Southeast Asia.”
Grab Indonesia managing director Ridzki Kramadibrata said: “We want to help the nearly 95 per cent of people in Indonesia who don’t use credit cards to enjoy the seamless experience of cashless payments. Besides safe and convenient rides, we will continue to partner with the best-in-class Indonesian companies to launch new services to serve the people in Indonesia.”