Strengthening its expansion into fintech, Grab introduces GrabPay Card
The card is the result of a partnership between the company and Mastercard, which was first announced in October last year.
It will enable users to transact in any online or offline merchants that accept Mastercard around the world, regardless of their banking status.
The digital version of the card is set to be available in Singapore today. It will also be launched in the Philippines in Q1 2020 and other Southeast Asian countries in the first half of 2020.
Users can apply for the physical numberless card after receiving their digital card; the physical card itself will be rolled out in batches.
Its numberless feature is claimed to provide greater security, which the company explained as “What can’t be seen, can’t be stolen.”
In a press statement, GrabPay Managing Director Huey Tyng Ooi dubbed the card as the “continued evolution” of GrabPay, the company’s e-wallet service.
“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,” she explained.