With Android Pay, Apple Pay and Samsung Pay being rolled out to various countries around the world, it seems that cashless transaction is about to be the norm soon. One such company believes so, and they have announced their intentions to start such a service itself. The company in question? The Singaporean ridesharing service known as Grab.
First teased during the beginning of the year, Grab’s cashless digital wallet service, ‘GrabPay,’ will allow users to pay for items outside of its service using its payment system. Grab is currently eyeing Indonesia as its first market, and is looking to roll out the service to users before the end of the year. To help with the rollout of GrabPay, Grab has partnered up with Lippo, a billion dollar Indonesian retail conglomerate. Should Grab’s experiment with GrabPay turns out to be successful, the company plans to roll the service out to other SEA countries as well, such as Malaysia, Singapore, Thailand, the Philippines and Vietnam.
“The potential of developing a mobile payments platform in Southeast Asia is limited. 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 if one way forward,” says Anthony Tan, CEO of Grab.
Source: TechCrunch