Grab to get Philippine license to expand payments offering

Grab consumers in the Philippines can already use the GrabPay mobile wallet in order to pay for trips with the company, as well as its local express delivery service. They can also transfer Grab’s in-app credits to other users. By obtaining its EMI license from BSP, Grab will be able to introduce a range of other payments options.

GrabPay will be made available as a payment option at third-party merchants, who’ll be able to accept GrabPay mobile payments via QR code.

Earlier September 2018, Grab collaborated with Vietnamese payments startup Moca to expand GrabPay’s presence in the country. In Indonesia, Grab offers payments-related services under the license held by Ovo, its joint venture with local conglomerate Lippo.

Also, Grab obtained a license to handle cashless payments in Malaysia. It partnered with local player Maybank to broaden GrabPay’s reach among the bank’s customers and merchant partners. This followed the November 2017 debut of GrabPay cashless payments at hawker centers and other merchants in Singapore.

The company signaled its intention to provide enhanced financial services via the GrabPay platform, including peer-to-peer lending and cross-border remittances. Grab has also announced that it will offer on-demand food delivery in the Philippines, and users will be able to pay for the service in-app.