GrabPay announces new verification feature

GrabPay users can utilize seamless in-app user verification 

GrabPay announces new verification feature. Source: shutterstock.com

Grab, the super app from Southeast Asia, has launched a new user verification feature on its GrabPay wallet in partnership with the Government Technology Agency of Singapore (GovTech). Grab users will be able to authorize the retrieval of personal data from MyInfo, a digital identity service from GovTech, to complete the verification process easily. The new feature will be progressively rolled out and will be available to all users by end June 2019.

New verification process. Source: grab.com

This comes after GrabPay became a relevant stored value facility (SVF), licensed and regulated by the Monetary Authority of Singapore (MAS). As a regulated e-wallet, Grab is now required to perform customer identity verification on GrabPay users, in a process called KYC (Know Your Customer). MyInfo simplifies the customer verification process by reducing manual form-filling and eliminating the need to submit supporting documents such as photos of the NRIC.

Managed by GovTech, MyInfo is a trusted solution for SingPass users to authenticate themselves and manage the use of their personal data while transacting online with participating public and private organizations.

To perform authentication with MyInfo, GrabPay users simply need to log-in to their SingPass account via the Grab app and provide consent to the retrieval of personal data. Users will receive a notification when Grab has verified and upgraded the account within 3 working days.

SEE ALSO: Grab and its FinTech ecosystem

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