Wirecard & Grab Announce Payments Partnership For MSMEs In SEA

The payments partnership between Wirecard and the Southeast Asia super app Grab will drive cashless economy for MSMEs across the region.

Wirecard partners Grab.

Wirecard partners Grab.

Grab offers a variety of services to consumers in Southeast Asia ranging from ride-hailing and food delivery to digital financial products across payments, lending and insurance.

Wirecard will process card transactions made via the GrabPay e-wallet and integrate it as a payment method for its merchants.

More details below from the press release.

Aschheim (Munich) / Singapore – Wirecard, the global innovation leader for digital financial technology, is entering into a payments partnership with Grab, Southeast Asia’s leading super app.

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

The partnership 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.

“We are thrilled to partner with Wirecard as we progress on our journey of building a cashless economy for millions of businesses across Southeast Asia. Wirecard’s innovative mobile payments solutions will not only complement our GrabPay e-wallet platform, but also offer businesses and consumers the opportunity to transact with greater security, convenience and flexibility,” said Reuben Lai, Senior Managing Director of Grab Financial Group

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%.

The GrabPay e-wallet is one of the most popular e-wallets in Southeast Asia accepted by over 600,000 merchants and small businesses.

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