The collaboration will see Wirecard process transactions made via the GrabPay e-wallet, starting with the Malaysian, the Philippines and the Singapore markets. In February, Grab received USD 850 million from Japanese investors Mitsubishi UFJ Financial Group (MUFG) and TIS, to boost financial inclusion in Southeast Asia.
Consumers can use the GrabPay e-wallet to make transactions online as well as offline. Through this partnership, Wirecard will process card transactions for GrabPay via its digital financial commerce platform and will extend GrabPay to more merchants to expand the acceptance of the mobile payment method.
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