Wednesday, 24 April 2024
Grab and Lippo Group strike payments partnership
Jakarta, Indonesia -– Grab, Southeast Asia's leading ride-hailing app and largest transport network, and the Lippo Group, Indonesia's largest consumer services group of companies, today announced a partnership to implement an e-money payments platform in Indonesia. Over 50 million existing customers from the two companies will be able to pay via their mobile phones or use their Grab App to pay for a full suite of services from Lippo’s retail companies, including department stores, hypermarts, cinemas, coffee shops and e-commerce.
This is an extension of the strategic partnership between the two leading Southeast Asian tech and Internet companies signed in March this year. Lippo Group will develop a universal payments platform that enables Indonesians to top-up an e-money account and use it to pay digitally at Lippo companies. Grab will integrate the payments platform into the Grab app as a mobile wallet option within GrabPay, enabling any mobile user to use the Grab app to pay for not only their daily transport needs, but also other lifestyle services.
“We commend the government’s efforts to push Indonesia towards a cashless society and look forward to contributing towards this goal. Grab’s partnership with the Lippo Group to develop a universal payments platform will be a leap forward for e-money in Indonesia. With a rapidly growing middle class, people will want to have a mobile wallet option in the Grab app, which they can use every day, whether for transport, or payments for basic transactions,” said Anthony Tan, Group CEO and Co-founder, Grab.
Anthony Tan added, “The potential of developing a mobile payments platform in Southeast Asia is limitless. The majority in Southeast Asia are unbanked but are armed with mobile phones. We need to find a cashless solution that helps them manage their money and mobile wallets is one way forward. This partnership with Lippo Group is another step in Grab’s goal to provide a mobile payments solution to millions in our region. We will work with local partners to make cashless transactions a reality for the majority in Southeast Asia.”
“Lippo Group is committed to transforming lives in Indonesia, and we want to work with partners like Grab that have this common vision. This universal payments platform will enable our customers to go cashless at all our online and offline retail companies – and we will introduce more partner services and merchants as well. Indonesians can enjoy the convenience of using their mobile phones and the Grab app to top-up and pay, as well as better manage their cash flow,” said Adrian Suherman, Lippo Group Director who heads Lippo’s digitization initiatives.
Ridzki Kramadibrata, Managing Director, Grab Indonesia added, “Indonesia is Grab’s largest market and we are invested in developing new services specifically for Indonesian preferences. There is a huge opportunity to improve mobile cashless payments in Indonesia. We want to help the nearly 95 per cent of people in Indonesia who don’t use credit cards to enjoy the seamless experience of cashless payments. Besides safe and convenient rides, we will continue to partner with the best-in-class Indonesian companies to launch new services to serve the people in Indonesia.”
The universal payments platform will be rolled out at Lippo Group companies and integrated with the Grab app in phases from Q4 2016.
Re-disseminated by The Asian Banker
