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March 12, 2020Blog Posts

Grab and Wirecard forge payments partnership

Finextra

Wirecard, the global innovation leader for digital financial technology, is entering into a payments partnership with Grab, Southeast Asia’s leading super app, that will see Wirecard process transactions made via the GrabPay e-wallet, starting with the Malaysian, the Philippines and the Singapore markets.

Consumers can use their GrabPay e-wallet to pay for transactions online and offline, for example for ride-hailing or food delivery, but can also use it to pay for purchases on e-commerce sites or at physical stores. Through this partnership, Wirecard will process card transactions for GrabPay via its digital financial commerce platform and will extend GrabPay to more merchants to expand the acceptance of the mobile payment method.

According to a recent global Wirecard consumer survey, over 90% of consumers in Southeast Asia have used digital payments both in-store and online. Mobile wallets are almost twice as popular in the region as they are worldwide, with 44% regularly choosing them as a payment method compared to the global average of 25%.

“We are proud to partner with Grab, a Southeast Asian icon,” commented Georg von Waldenfels, Executive Vice President Group Business Development at Wirecard. “Together, we aim to continue disrupting the payment, tech and mobility industries with innovative solutions that can improve the lives of millions.”

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