The move brings greater financial inclusion while promising greater security, an expanded rewards ecosystem and Grab payments integration.
Grab has announced it is rolling out the GrabPay Card to users of its super app and e-wallet, the firm announced in a statement on Thursday. Part of the firm’s ongoing collaboration with Mastercard, a digital version of the GrabPay Card is available to users in Singapore from 5 December, with physical cards to be issued in the first half of 2020, the statement said.
The move is a significant one as it allows users, even the unbanked, to transact at anywhere in the world that accepts Mastercard payments, whether online or offline while extending Mastercard’s reach across Southeast Asia.
The GrabPay Card «represents an important step for GrabPay in becoming a truly Asean wallet,» GrabPay managing director Huey Tyng Ooi said.
As the card is numberless, it promises greater security. There will also be options for additional benefits, including mobile protection insurance, e-commerce protection, and flight delay passes.
Physical cards will be first issued in the Philippines in Q1/2020, with the rest of Southeast Asia to follow.
