The company partnered with a financial conglomerate to launch a co-branded mobile wallet
Uber’s rival will introduce a mobile wallet. Source: shutterstock.com
Uber’s rival from Southeast Asia Grab and Thailand’s leading financial conglomerate KasikornBank (KBank) today announced a strategic partnership to introduce GrabPay by KBank, a co-branded mobile wallet, as well as a suite of other financial solutions in Thailand.
With this partnership, Grab Financial marks the expansion of its mobile wallet to all ASEAN-6 countries – Singapore, Malaysia, Indonesia, Vietnam, Philippines, and Thailand, cementing itself as the region’s number one fintech player.
The partnership comes with a strategic investment from KBank in Grab and is part of Grab’s ongoing fundraising round, which includes Toyota Motor Corporation, Microsoft Corp., Booking Holdings, Hyundai Motor Group, Oppenheimer Funds, and other leading global investors.
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