Transport network company Grab has launched Asia’s first numberless card that offers users enhanced card security, the company said in a press statement.
The digital GrabPay Card, which was made available in Singapore from December 5, also grants users access to an expanded rewards ecosystem and hassle-free Grab payments integration.
Grab users in Singapore can sign up for the card after completing a short, simple customer verification process in the Grab app. After they are verified, users can use their digital GrabPay Card – linked to their GrabPay balance in their wallet – to make purchases.
As there are no numbers on the physical card, users get to enjoy exceptional security when they transact at nearly 53 million merchants worldwide that accept Mastercard cards, the Singapore-headquarted company said in the statement.
“This partnership with Mastercard moves us toward an open payments ecosystem, allowing users to earn and redeem reward points across millions of merchants and represents an important step for GrabPay in becoming a truly Asean wallet,” said Huey Tyng Ooi, Managing Director, GrabPay.
Rama Sridhar, Executive Vice President, Digital & Emerging Partnerships and New Payment Flows, Asia Pacific, Mastercard, added, “This partnership significantly expands Mastercard’s reach in Southeast Asia while helping Grab to rapidly scale up its global offering. As a result of this partnership, GrabPay users will be able to transact safely, securely and effortlessly with one of the first e-wallets from Southeast Asia that offers worldwide acceptance”.