BFM 89.9
The Business Station
Grab-bing A Piece Of Payment's Pie - Uphill Battle
23 mins·08:05, 18 Oct 2018
Grab-bing A Piece Of Payment's Pie - Uphill Battle
23 mins
·
08:05, 18 Oct 2018
·
Recommended
GrabPay is the digital payments business of Grab and its game plan is to be the "Asean Wallet".
But the battle for payment platform dominance is heating up in the region.
Everyone wants a share of the e-payments pie -- from Chinese Giants such as Tencent and Alibaba to traditional banks as well as Grab’s biggest rival Go-Jek that is expanding beyond its home base of Indonesia.
At home, there are 5 banks and 36 non banks in the e-money space.
What are GrabPay's strategies in this competitive payments sector?
We ask Huey Tyng this.
Aside from competition rising in the mobile payment's space, cash continues to be a strong incumbent competitor with 80% of transactions undertaken in cash.
Can Grab convert cash to cashless?
It looks like a long and uphill ride ahead.
Presenter: Joyce Goh
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