Grab launched its digital-first prepaid card powered by Mastercard in the Philippines, extending GrabPay’s reach globally. The GrabPay Card offers unparalleled card security, hassle-free online payments and expanded rewards ecosystem to bring the convenience of cashless payments to more Filipinos.
In a survey conducted by Mastercard in the Philippines in April 2020, it said that 40% of Filipino consumers are now using contactless payments more often in light of the COVID-19 pandemic. The introduction of the GrabPay Card in the Philippines supports Grab’s direction to promote safer payments by doubling down on cashless services that help curb the spread of the virus.
The GrabPay Card was launched in the Philippines with a digital version that gives the user complete control via the Grab app.
“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,” head of GrabPay Philippines Jonny Bates said.
Commenting on the partnership, Mastercard’s country manager in the Philippines Rowell del Fierro said, “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.”
The GrabPay Card is a culmination of Grab’s ongoing partnership with Mastercard that aims to bring financial inclusion to the millions of underbanked and unbanked in Southeast Asia.
Re-disseminated by The Asian Banker