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Go-Jek, Grab partner banks to offer payment services in Singapore, South-east Asia

SINGAPORE — Ahead of its much-anticipated arrival in Singapore, ride-hailing firm Go-Jek is teaming up with DBS Bank to offer payment services when its beta app launches here “within the coming weeks”, the two companies announced in a joint statement on Monday (Nov 12).

Go-Jek, Grab partner banks to offer payment services in Singapore, South-east Asia
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SINGAPORE — Ahead of its much-anticipated arrival in Singapore, ride-hailing firm Go-Jek is teaming up with DBS Bank to offer payment services when its beta app launches here “within the coming weeks”, the two companies announced in a joint statement on Monday (Nov 12). 

Not to be outdone, rival firm Grab and United Overseas Bank (UOB) also announced on the same day a partnership that will allow users to tap on a number of the bank’s payment solutions directly on the Grab app.

Indonesia-based firm Go-Jek made its first moves to recruit drivers here when it announced on Oct 29 that it had launched a portal for them to pre-register to use its platform.

In May, Go-Jek said that it will invest US$500 million (S$671 million) in its international expansion strategy to enter markets in the Philippines, Singapore, Thailand and Vietnam “in the next few months”. The ride-hailing company recently raised US$1.5 billion in funding, and its investors include Google, Temasek, Chinese conglomerate Tencent and Meituan Dianping, a China-based online food delivery-to-ticketing services platform.

Go-Jek president Andre Soelistyo said on Monday that his team is “very much looking forward” to the launch of its beta ride-hailing service.

“We know that people are desperate for more choice in the sector, and we believe we can satisfy this demand,” he said.

“The response from the driver community since we opened pre-registration has been overwhelming, and we are confident that by working with DBS, we will see the same level of excitement from consumers too.”

Under the partnership, DBS customers here will enjoy “a slew of exciting privileges” through their partnership in payment services, which will also be extended to other countries in South-east Asia.

Ms Tan Su Shan, DBS’ head of consumer banking and wealth management, said the bank aims to make payments simple and seamless for its customers.

Similarly, the partnership between Grab and UOB will enable Grab users to enjoy special privileges if they pay for its services using UOB cards, for example. Customers will also be able to top up their GrabPay wallet directly from their UOB bank account.

UOB is also working with Grab to embed its digital bank features in Grab’s mobile app, so that users can access its banking services “quickly and conveniently”.

“Through these initiatives, consumers will be able to enjoy a fully digital and seamless banking and payments experience, from the moment they apply to open an account through to managing their everyday lifestyle needs when using the app”, said the joint statement.

UOB will also become Grab’s preferred banking partner in Singapore, and a strategic credit card partner for Grab in Singapore, Indonesia, Malaysia, Thailand and Vietnam, said the statement.

Both companies will also explore launching co-branded credit cards in Asean (Association of South-east Asian Nations), it added.

Grab’s co-founder and chief executive officer Anthony Tan said the alliance with UOB will offer consumers “more convenient payments services regionally, and help more people move from cash to cashless”.

 

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