Grab and TransferTo partner up to deliver real-time digital payments across South-East Asia
TransferTo,a global Cross-Border Mobile Payments Network, has been chosen by Grab, the leading mobile ride-hailing and payments platform in South-East Asia, to enable real-time earnings payouts for Grab drivers using their GrabPay account, across Grab’s operating markets.
For the first time, and as a result of this strategic partnership, Grab drivers can instantly collect their daily earnings with their GrabPay mobile wallet as they end their shift. TransferTo’s real-time payments Network is integrated with major banks in Singapore and across Southeast Asia, allowing drivers to link their GrabPay mobile account directly to their personal bank account, or opt for a cash pick-up option.
The use of TransferTo’s real-time Mass Payouts solution means there are more drivers willing to take on more rides with the added security that they can receive their money daily, and in real-time. In fact, within the first few weeks of launch, there were more than 6 million transactions.For Grab, this means that they are able to scale their growth a lot faster across the region.
Peter De Caluwe, CEO at TransferTo, said, “We are extremely delighted to have been selected by Grab to service over 1.8 million drivers across the region with their daily salary payouts. This is an extremely important responsibility and one that we are honoured to have received. Our job is to ensure every single payout happens in a seamless manner, allowing Grab to focus on building their regional profile and expanding their digital payment capabilities across South-East Asia.”
“Our driver-partners represent the distribution network through which we will enable digital payments across Southeast Asia”,shares Jason Thompson, Head of GrabPay. “TransferTo’s extensive global payments Network has allowed us to offer faster daily earnings to these invaluable partners. TransferTo seamlessly took care of the entire set-up and integration process, allowing us to focus on our market strategy and better serving our users.”
This article was featured in Fintech News Singapore, The Paypers, MSN, Fintech Finance and The Edge Markets.