Wirecard and the Southeast Asian technology giant To catch announced a partnership that may enable the worldwide financial services provider to process transactions made via its GrabPay e-wallet, starting within the markets of Malaysia, the Philippines and Singapore, in keeping with Wired cardofficial statement.
Through this partnership, Wirecard will process card transactions for GrabPay through its digital financial commerce platform and expand GrabPay to more merchants to extend acceptance of the mobile payment method.
“We are proud to partner with Grab, an icon of Southeast Asia,” said Georg von Waldenfels, executive vp of Group Business Development at Wirecard, as quoted by Deal Street Asia. “Together, we aim to continue to disrupt the payments, technology and mobile industries with innovative solutions that can improve the lives of millions.”
According to a recent one Wirecard global consumer researchover 90% of consumers in Southeast Asia used digital payments each in stores and online. Mobile wallets are almost twice as popular within the region than globally, with 44% recurrently selecting them as a payment method in comparison with a world average of 25%.GrabPay is probably the most widely used e-wallets in Southeast Asia, accepted by over 600,000 sellers and small businesses.
It has recently taken steps to further expand its offering, including the recent launch of digital and physical versions numberless payment card in cooperation with the worldwide payment giant Mastercard. GrabPay also said it plans to proceed adding features to its e-wallet and recent cards because it seeks to turn out to be a regional fintech leader.
According to Technology in Asia, GrabPay is one among the e-wallet players chosen by Malaysian sovereign wealth fund Khazanah Nasional Berhad to take part in its USD 109 million e-Tunai Rakyat initiativewhose aim is to encourage the usage of cashless payments throughout the country.
