GrabPay is part of a portfolio of services operating under Grab Holdings Inc., a Singapore-based mobile technology company. The company was initially founded in Malaysia under the MyTeksi brand in 2012 offering ride-hailing services. It was later rebranded to GrabTaxi. Since relocating to Singapore in 2014 the company settled with the name Grab and has since branched out into many other mobile app-based, on-demand services divided into four main areas: ride hailing, deliveries, financial services, and enterprise solutions. Besides operating in its home base of Singapore, Grab services are available in Malaysia, the Philippines, Thailand, Indonesia, Vietnam, Cambodia, and Myanmar.
GrabPay serves as the digital wallet within Grab’s super-app. All of Grab’s services can be paid for using GrabPay. In addition, GrabPay can also be used to pay for online as well as in-store purchases. GrabPay is the most widely accepted mobile wallet across Southeast Asia. According to Grab, there are around 9 million GrabPay acceptance points in the Asia Pacific region, with almost 190 million users.
There is a large financially underserved market in Asia Pacific, and the smartphone has become an essential tool to bring financial services to this group of consumers. Grab thus offers a lot of potential over the immediate to long term. This helps explain why it has attracted investments from companies around the world, including SoftBank, Didi, Toyota, and Hyundai.
The report provides information and insights into GrabPay including –
– Detailed insight into its business
– Comprehensive coverage of its products and services
– Comparative assessment with key alternative payment solutions
– Information on its performance highlights
– The company's important events and milestones
– In December 2017, Grab obtained license from Bank Negara Malaysia (the Malaysian central bank) to offer GrabPay mobile wallet services.
– In October 2018, Grab partnered with Mastercard to introduce prepaid cards to extend the use of GrabPay in Southeast Asia.
– In November 2018, Grab introduced remittance services to GrabPay across its Southeast Asia markets.
– In May 2021, GrabPay partnered with Stripe to enable businesses in Singapore and Malaysia to accept GrabPay via Stripe Checkout.
Reasons to Buy
– Gain insights into GrabPay's business operations and key events.
– Gain insights into its product portfolio.
– Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.
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