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Grab announced today the launch of the GrabPay Card in the Philippines, a fully digital prepaid card powered by Mastercard that extends GrabPay’s reach globally with unparalleled card security, hassle-free online payments and expanded rewards ecosystem to bring the convenience of cashless payments to more Filipinos.
Regulated by the Bangko Sentral ng Pilipinas (BSP), GrabPay is a mobile wallet that can be used to transact within and outside the Grab app safely and securely. With a 24/7 fraud detection engine, users are assured that their personal information and payment transactions remain encrypted and protected. To use the GrabPay Card, simply upgrade the GrabPay wallet by following the in-app verification process.
In a survey conducted by Mastercard in the Philippines in April 2020, 40% of Filipino consumers are now using contactless payments more often in light of the COVID-19 pandemic.
“As cities slowly get back on their feet after months of lockdown brought about by the COVID-19 pandemic, digital payments become the critical enabler to embrace this new reality. The launch of the digital GrabPay Card powered by Mastercard supports our mission of providing safer transactions and bringing more cashless opportunities to Filipinos not only for local transactions but also everywhere in the world,” said Jonny Bates, Head of GrabPay Philippines.
“Mastercard is pleased to further expand the partnership with Grab in Southeast Asia with the launch of GrabPay Mastercard in the Philippines. Now Filipino GrabPay users can enjoy a seamless digital payment experience through the GrabPay Mastercard. This partnership also gives GrabPay users access to an e-wallet that is now accepted worldwide, unlocking a whole new world of possibilities for them,” said Rowell del Fierro, Country Manager, Philippines, Mastercard.
The GrabPay card allows the company to tap into Mastercards nearly 53 million merchants worldwide.
The card was first launched in Singapore, in December 2019. In an interview done by Fintech News Malaysia, Grab’s Managing Director Ooi Huey Tyng revealed that they are looking to launch the card in Malaysia sometime this year.
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