GrabPay - Competitor Profile

GrabPay - Competitor Profile

Summary

GrabPay is part of a portfolio of services operating under Grab Holdings Inc., a Singapore-based mobile technology company. The company was initially founded in Malaysia under the MyTeksi brand in 2012, offering ride-hailing services. It was later rebranded to GrabTaxi. Since relocating to Singapore in 2014, the company settled with the name Grab and has since branched out into many other mobile-app-based, on-demand, services divided into four main areas: ride hailing, deliveries, financial services, and enterprise solutions. Besides operating in its home base of Singapore, Grab has services available in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Thailand, and Vietnam.

GrabPay serves as the mobile wallet within Grab’s super-app. All of Grab’s services can be paid for using GrabPay. In addition, GrabPay can be used to pay for online as well as in-store purchases. GrabPay is the most widely accepted mobile wallet across Southeast Asia.

There is a large financially underserved market in Asia-Pacific, and the smartphone has become an essential tool to bring financial services to this group of consumers. Grab thus offers a lot of potential over the immediate to long term. This helps explain why it has attracted investments from companies around the world, including SoftBank, Didi, Toyota, and Hyundai.

The report provides information and insights into GrabPay including -

• Detailed insight into its business
• Comprehensive coverage of its products and services
• Comparative assessment with key alternative payment solutions
• Information on its performance highlights
• The company's important events and milestones

• In August 2017, Grab launched peer-to-peer fund transfers in Singapore.
• In November 2018, Grab partnered with Thailand’s Kasikornbank to launch GrabPay in Thailand.
• In December 2019, GrabPay Card – Asia-Pacific’s first numberless Mastercard – was launched in Singapore.
• In February 2021, GrabPay partnered with Singapore-based fund transfer service provider PayNow. This allowed GrabPay customers to send or accept transfers between bank accounts and e-wallets, as well as across e-wallets, via the PayNow payment method.
• In September 2022, GrabPay partnered with P-PRO, UK-based payment service provider to allow P-PRO partner merchants to accept GrabPay payment in Malaysia.

• Gain insights into GrabPay business operations and key events.
• Gain insights into its product portfolio and performance highlights.
• Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.