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Wirecard to process GrabPay ewallet transactions for businesses

Micro, small and medium enterprises in the Philippines, Malaysia and Singapore will benefit from the partnership

Wirecard has partnered with Grab to process GrabPay ewallet transactions and integrate it as a payment method for micro, small and medium enterprises (MSMEs), according to a press release. The partnership will target MSMEs in the Philippines, Malaysia and Singapore. 

Wirecard will process card payments through its digital platform and offer GrabPay to more merchants, media reports said. 

Reuben Lai, Senior Managing Director of Grab Financial Group, told the media, “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 ewallet platform, but also offer businesses and consumers the opportunity to transact with greater security, convenience and flexibility.”

It is reported that GrabPay is a popular ewallet in Southeast Asia. More than 600,000 merchants and small businesses are using it in the region. 

According to Wirecard global consumer survey, more than 90 percent of customers in the region have used both online and in-store digital payments. That said, mobile wallets are quite popular in the region, with 44 percent of customers choosing them as a preferred payment method compared to global average of 25 percent. 

Wirecard is one of the world’s fastest growing digital platforms in the ecommerce space. It offers real-time digital payment services to both digital customers and businesses Singapore’s Grab is also a leading ride-hailing app in Southeast Asia and has been downloaded on more than 185 million mobile devices. 

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