The firm will process card transactions made via the GrabPay e-wallet and integrate it as a payment method for its merchants.
Wirecard has entered into a payments partnership with Singapore-based superapp Grab to drive the cashless economy for micro, small and medium enterprises (MSMEs) across Southeast Asia, the Munich-based firm announced in a statement on Wednesday.
Wirecard said that it will process payments made with the GrabPay e-wallet, starting with the Malaysia, Philippines and Singapore markets.
Together, we aim to continue disrupting the payment, tech and mobility industries with innovative solutions that can improve the lives of millions, Georg von Waldenfels, Wirecard executive vice president, Group Business Development, said about the partnership.
Grab operates in eight countries in Southeast Asia, with its app downloaded on over 185 million mobile devices, according to its website.
GrabPay is among the most popular e-wallets in Southeast Asia, currently accepted by 600,000 merchants.