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MANILA, Philippines – While majority of Filipinos still transact using cash, Southeast Asia ride-hailing giant Grab expanded its mobile wallet services in the Philippines to promote cashless transactions.
In a statement on Thursday, September 27, Grab said it is expanding its mobile wallet services “GrabPay” to include bills payment, food orders, and in-store and in-restaurant purchases.
The Bangko Sentral ng Pilipinas granted the firm a license to operate as an electronic money issuer in August. Grab is among the 11 non-banks with EMI license so far.
“With the support from Bangko Sentral ng Pilipinas, we can now help millions participate in the cashless, digital economy without the need for a bank account or to download additional apps,” said Ooi Huey Tyng, managing director of GrabPay Malaysia, Singapore, and the Philippines.
Users can load their GrabPay through online banking, bank deposits, credit card payment, or paying at convenience store 7-11, Cebuana, or directly to an eligible Grab driver.
Currently, GrabPay can be used to book rides, send package deliveries, or to top-up one’s mobile prepaid load. The firm said it is still working on the integration of mobile payments for food deliveries.
Grab said the Philippines is the 5th country in Southeast Asia “where the ‘full suite’ of GrabPay mobile wallet services becomes available.”
Under its rewards program, users who opt to pay via GrabPay receive twice as much rewards that can be used to redeem ride, stores, and services discounts.
Grab’s vision is to be the “everyday superapp,” with its full rollout expected to be implemented by the third quarter of the year. – Rappler.com