Grab rolls out online payment check-out, to launch credit services and insurance marketplace.
GRAB is launching upgrades to its mobile wallet GrabPay, postpaid payment services for customers, and more insurance options for its drivers and users as it eyes becoming the region's largest insurtech policy provider and fintech lender on a single platform.
Grab also launched a Point-of-Sale device integration function so that merchants can tap Grab's user base without having to change their hardware or sales and accounting systems. It will first be available in Singapore with merchants such as Coffee Bean & Tea Leaf and bakery chain Paris Baguette, following which it will expand this across the region.
Grab also appears to be aiming to mirror Alibaba affiliate Ant Financial's success in China. Under the"Grow with Grab" campaign, it will roll out Pay Later, a service that allows customers to pay for Grab services at the end of the month instead of immediately. It will launch first in Singapore in the next few weeks, following which it will be expanded to other countries.
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