Wirecard is teaming up with Grab to process card transactions made via the GrabPay e-wallet. Furthermore, Wirecard will extend GrabPay to more merchants to expand the acceptance of the mobile payment method.
The Wirecard Grab deal kicks off in the Malaysian, Philippines and Singapore markets.
Consumers can use their GrabPay e-wallet to pay for transactions online and offline. For example, the e-wallet can be used for ride-hailing or food delivery. In addition, it can also be used to pay for purchases on e-commerce sites or at physical stores.
Mobile wallets: used by 44% of Southeast Asia consumers
According to a recent Wirecard survey, over 90% of consumers in Southeast Asia have used digital payments in-store and online. Mobile wallets are almost twice as popular in the region as they are worldwide. Around 44% regularly choose them as a payment method compared to the global average of 25%.
“We are proud to partner with Grab, a Southeast Asian icon,” says Georg von Waldenfels, Executive VP, Wirecard. “Together, we aim to continue disrupting the payment, tech and mobility industries with innovative solutions that can improve the lives of millions.”
Reuben Lai, Senior Managing Director of Grab Financial Group, says: “We are thrilled to partner with Wirecard as we progress towards building a cashless economy across Southeast Asia.
“Wirecard’s innovative mobile payments solutions will not only complement our GrabPay e-wallet platform. It also offers businesses and consumers the opportunity to transact with greater security, convenience and flexibility.”
The GrabPay e-wallet is accepted by over 600,000 merchants and small businesses.
The Grab app has been downloaded onto over 185 million mobile devices. It gives users access to over 9 million drivers, merchants and agents. Grab also offers food and package delivery services, digital payments and financial services across 339 cities in eight countries.