Based in Singapore, Ooi Huey Tyng brings on board more than 25 years of experience in senior positions at global banks and leading payments providers. Following shortly after a number of GrabPay milestones to end 2017, this appointment underlines the scale of the payments platform’s ambitions coming into 2018.
GrabPay onboarded a total of 1,000 merchants in Singapore, reaching its target a mere two months after launching its in-store and in-restaurant payments service. For 2018, the payments platform will continue to focus on Singapore’s more than 20,000 local, cash-based merchants who will see the most immediate benefits from adopting cashless. In Malaysia, GrabPay was granted the e-money licence by Bank Negara Malaysia, Malaysia’s central monetary authority.
As a result, consumers in Malaysia will be able to pay with Grab in restaurants, shops and online, starting in the first half of 2018. End of December, Grab also moved beyond transport in the Philippines to launch its peer-to- peer (P2P) fund transfer feature. In the cash-heavy Philippines, this feature enables Grab consumers to send GrabPay Credits to one another in an instantaneous, simple and secure way.
- The appointment of Jason Thompson, a former Managing Director for EMEA and Asia at Euronet, to lead GrabPay as Managing Director, GrabPay Southeast Asia.
- The acquisition of Kudo, one of Indonesia’s leading O2O (online to offline) ecommerce platforms, followed by a partnership with leading payments services PayTren to form Indonesia’s largest network of more than 3 million micro-entrepreneurs
- The appointment of Vikas Agrawal as CTO of GrabPay and Ongki Kurniawan as Managing Director of GrabPay Indonesia
- The launch of a revamped GrabRewards platform, one of Southeast Asia’s largest loyalty programmes with more than 160 Rewards partners