Dec. 5, 2018
Grab has made an agreement with SM Investments Corp., a Philippines-based retail and real estate banking conglomerate, to provide the GrabPay mobile wallet and its digital funds services to unbanked and underbanked consumers in that country, according to a company release.
Consumers can use GrabPay to make purchases and load their mobile wallets using SM's extensive financial network. SM has about 70 malls, with 2,200 retail merchants around the country, while its BDO, the largest bank in that country, has more than 1,200 branches and 4,200 ATMs nationwide in that market, according to the announcement.
GrabPay mobile wallet customers, who currently have access to ride sharing and delivery, will be able to use the technology to buy groceries, movie tickets and other items at the SM Store, SM Supermarket, SM Cinema and additional partners, according to the announcement.
Grab users will soon be able to load their mobile wallets using BDO bank accounts, ATM machines, SM Business Centers and the 2GO retail network.
SM outlets will provide dedicated Green Lanes that allow GrabPay users the ability to skip regular lines and quickly check out, according to the release.
Topics: ATMs, Mobile Banking, Mobile/Digital Wallet, Region: APAC, Retail
Companies: Grab
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