Wirecard Partners Grab for Payments
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The firm will process card transactions made via the GrabPay e-wallet and integrate it as a payment method for its merchants.
Wirecard has entered into a payments partnership with Singapore-based superapp Grab to drive the cashless economy for micro, small and medium enterprises (MSMEs) across Southeast Asia, the Munich-based firm announced in a statement on Wednesday.
Wirecard said that it will process payments made with the GrabPay e-wallet, starting with the Malaysia, Philippines and Singapore markets.
Together, we aim to continue disrupting the payment, tech and mobility industries with innovative solutions that can improve the lives of millions, Georg von Waldenfels, Wirecard executive vice president, Group Business Development, said about the partnership.
Grab operates in eight countries in Southeast Asia, with its app downloaded on over 185 million mobile devices, according to its website.
GrabPay is among the most popular e-wallets in Southeast Asia, currently accepted by 600,000 merchants.
Questions & Answers
Q.Which specific markets will see Wirecard processing GrabPay e-wallet payments first?
Which specific markets will see Wirecard processing GrabPay e-wallet payments first?
Wirecard will begin processing payments made with the GrabPay e-wallet in Malaysia, the Philippines, and Singapore. These are the initial markets where the partnership's payment processing services will be rolled out to users.
Q.What is the primary goal of this new partnership between Wirecard and Grab?
What is the primary goal of this new partnership between Wirecard and Grab?
The main objective of the partnership is to promote and expand the cashless economy for micro, small, and medium enterprises (MSMEs) across Southeast Asia. They aim to achieve this by integrating GrabPay into Wirecard's merchant network.
Q.What is Grab's overall reach in Southeast Asia, according to its website?
What is Grab's overall reach in Southeast Asia, according to its website?
Grab operates in eight countries across Southeast Asia, and its app has been downloaded onto more than 185 million mobile devices. This indicates a significant user base across the region for their services.
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