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Grab launches GrabPay card in partnership with Mastercard

GrabPaySingapore-based Grab announced the launch of GrabPay Card, first numberless card in Asia that will offer users enhanced card security, access to an expanded rewards ecosystem and hassle-free Grab payments integration in order to bring cashless convenience to consumers in Southeast Asia.

The GrabPay Card has been launched in partnership with Mastercard, with an aim to bring financial inclusion to the millions of underbanked and unbanked in Southeast Asia. The digital card will be available in Singapore starting Thursday. Users can apply for the physical numberless card after receiving their digital card, Grab said. The physical card will be rolled out in batches.

“As the leading everyday super app in Southeast Asia, we are at an inflection point in the adoption of digital payments. The GrabPay Card, powered by Mastercard, is a continued evolution of GrabPay. We will continue to add features to the wallet and card to enable our users to enjoy simpler, more flexible digital payments experience. This partnership with Mastercard moves us toward an open payments ecosystem, allowing users to earn and redeem reward points across millions of merchants and represents an important step for GrabPay in becoming a truly Asean wallet,” said Huey Tyng Ooi, Managing Director, GrabPay.

It added that the card will be launched in the Philippines in Q1 2020, with other Southeast Asian countries to follow in the first half of next year. The card will vastly expands Grab’s offline and online merchant ecosystem, allowing users, regardless of whether they have a bank account, to transact securely and easily online or offline, at nearly 53 million merchants worldwide that accept Mastercard cards, Grab said.

“This partnership significantly expands Mastercard’s reach in Southeast Asia while helping Grab to rapidly scale up its global offering. As a result of this partnership, GrabPay users will be able to transact safely, securely and effortlessly with one of the first e-wallets from Southeast Asia that offers worldwide acceptance,” commented Rama Sridhar, Executive Vice President, Digital & Emerging Partnerships and New Payment Flows, Asia Pacific, Mastercard.

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