Grab

Digital financial technology provider Wirecard AG is partnering with Grab to process transactions from the GrabPay e-wallet in Malaysia, the Philippines and Singapore.

Grab Holdings Inc. closed offices in Singapore and Thailand for five days of cleaning after a Singapore-based employee, who previously visited the Bangkok office, tested positive for the coronavirus.

In today’s high-tech world, it’s difficult for entrepreneurs to create a sweeping new platform when there is always a specialist somewhere who can deliver niche products faster, better and cheaper than the generalist. That’s what makes Southeast Asia’s Grab so unique.

Ant Financial's success is instructive in the way it developed products that reach many different areas of their finances. And it's hardly the only success story to come out of the Asia Pacific Region, says Rapyd's Eric Rosenthal.

Rapid-fire acquisitions, partnerships and investments in the likes of Uber, Lyft and Grab are transforming these ride-sharing providers. And much of this activity is built on their ability to handle payments seamlessly as part of the experience.

Banks are rightly focused on PSD2 as an international gateway for fintechs to disrupt banking, though potential deregulation in Singapore can give digital payment companies another route to take share directly away from banks.

Singapore ride-hailing giant Grab held talks to acquire payments provider 2C2P Pte and was turned down, according to people familiar with the matter, a sign of the ambitions Southeast Asia’s most valuable startup has in financial services.

The ride-sharing heavyweights Uber and Grab built their markets by making payments seamless, and their expansion plans are similarly hooked into improving payments and other financial services.

Indonesia’s Go-Jek plans to roll out a preliminary version of its ride-hailing app in Singapore Thursday, bringing fresh competition to the hometown of arch-rival Grab, according to people familiar with the plan. Both companies combine ride hailing technology with payments and other financial services.

Despite the fervor over mobile wallets and banking, one day consumers may never need to open a dedicated bank or payment app.