Fintech & Ecommerce

Grab made another step to becoming a “super app”

The company announced a strategic regional alliance to accelerate the use of digital services among ASEAN’s consumers

GRAB

Grab made another step to becoming a “super app”. Source: shutterstock.com

United Overseas Bank Limited (UOB) and Grab announced they have entered into a strategic alliance to accelerate the use of digital services among ASEAN’s growing base of digital consumers.

The alliance will enable UOB to deliver financial services to Grab’s ASEAN-wide user base and to accelerate the Bank’s efforts to meet the needs of the region’s fast-growing ‘mobile-first’ and ‘mobile-only’ consumers. It will also pave the way for Grab to offer directly from its app a number of payment solutions from the Bank’s holistic suite.

Under the alliance, UOB will become Grab’s preferred banking partner in Singapore. UOB will also be a strategic credit card partner for Grab in Singapore, Indonesia, Malaysia, Thailand, and Vietnam. Both companies will also explore launching co-branded credit cards in ASEAN.

Grab will also tap the Bank’s cash management services to provide consumers the convenience of topping up their GrabPay wallet directly from their bank account. The new top-up method will increase the number of ways that consumers can add money to their GrabPay wallet, which include topping up through credit and debit card or Grab’s network of drivers, agents, and merchants.

The Bank is also working with Grab to embed features of its upcoming Digital Bank within Grab’s mobile app, enabling users to access banking services quickly and conveniently.

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