Grab Launches Physical Cards to Complement E-Wallets
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The move brings greater financial inclusion while promising greater security, an expanded rewards ecosystem and Grab payments integration.
Grab has announced it is rolling out the GrabPay Card to users of its super app and e-wallet, the firm announced in a statement on Thursday. Part of the firm’s ongoing collaboration with Mastercard, a digital version of the GrabPay Card is available to users in Singapore from 5 December, with physical cards to be issued in the first half of 2020, the statement said.
The move is a significant one as it allows users, even the unbanked, to transact at anywhere in the world that accepts Mastercard payments, whether online or offline while extending Mastercard’s reach across Southeast Asia.
The GrabPay Card «represents an important step for GrabPay in becoming a truly Asean wallet,» GrabPay managing director Huey Tyng Ooi said.
As the card is numberless, it promises greater security. There will also be options for additional benefits, including mobile protection insurance, e-commerce protection, and flight delay passes.
Physical cards will be first issued in the Philippines in Q1/2020, with the rest of Southeast Asia to follow.
Questions & Answers
Q.When will physical GrabPay Cards be available in Singapore?
When will physical GrabPay Cards be available in Singapore?
Physical GrabPay Cards are expected to be issued to users in Singapore during the first half of 2020. A digital version is already available there since 5 December.
Q.Which country will receive the physical GrabPay Card first?
Which country will receive the physical GrabPay Card first?
The Philippines will be the first country to receive the physical GrabPay Cards, with their issuance slated for Q1/2020. Other Southeast Asian regions will follow afterwards.
Q.How does Grab claim the new card enhances security for users?
How does Grab claim the new card enhances security for users?
Grab claims the GrabPay Card promises greater security because it is a numberless card. This design choice is intended to improve protection for its users.
Q.What additional benefits might users of the GrabPay Card receive?
What additional benefits might users of the GrabPay Card receive?
Users may have options for additional benefits, which include mobile protection insurance, e-commerce protection, and passes for flight delays, according to the announcement.
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