GrabPay gets e-money license from Bangko Sentral
Grab, the Philippines’s and Southeast Asia’s leading Online-to-Offline (O2O) platform, recently announced it will rapidly expand the GrabPay mobile wallet in the Philippines. The announcement comes as Grab receives the e-money license from Bangko Sentral ng Pilipinas. With the e-money license, Grab consumers in the near future, will not only be able to use GrabPay for rides and express delivery, but a number of additional payments services. The Philippines is the 5th country in Southeast Asia where the full suite of GrabPay mobile wallet services becomes available. “The Philippines has one of the highest percentages of people in Southeast Asia who do not have a bank account and who transact in cash. We believe Grab, an everyday app available on 1 in 2 smartphones in the Philippines can make a difference where other e-wallets have not been able to so far. The convenience of Grab’s many services and the millions of customers already using the Grab app every day, make us confident about
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