{"id":4536,"date":"2019-04-03T18:47:59","date_gmt":"2019-04-03T18:47:59","guid":{"rendered":"https:\/\/www.paymentfacilitator.com\/?p=4536"},"modified":"2022-02-24T22:15:52","modified_gmt":"2022-02-24T22:15:52","slug":"is-grab-taking-its-financial-services-business-for-a-spin","status":"publish","type":"post","link":"http:\/\/infinicept.com\/payment-facilitator\/archive\/is-grab-taking-its-financial-services-business-for-a-spin\/","title":{"rendered":"Is Grab Taking Its Financial Services Business for a Spin?"},"content":{"rendered":"\n<p>As part of its continued initiative to become the \u201ceveryday app\u201d for Southeast Asia\u2019s local marketplace, Grab is reported to be looking to some big players to help expand its financial services segment.<\/p>\n\n\n\n<p>Originally a ride-hailing startup out of Singapore, the firm, which\u00a0acquired  Uber\u2019s regional business last year, is now facing some heavy competition from Southeast Asia local Go-Jek, according to\u00a0<a href=\"https:\/\/techcrunch.com\/2019\/03\/29\/grab-financial-services-ant-financial-alibaba-paypal\/\">TechCrunch<\/a>.<\/p>\n\n\n\n<p>The article said that, as digital spending is expected to triple in the region by 2025, the payments ecosystem is ripe with competition and Grab wants to stay on top of, and even expand, its current market share. To accomplish this, the company is looking into a spin-off of Grab Financial Group (the entity that manages GrabPay and other financial ventures that include insurance and loans) into an individual operation.\u00a0<\/p>\n\n\n\n<p>TechCrunch reports the company is currently in talks with PayPal and Ant Financial as potential investors for the initiative, though PayPal declined to comment for the article and Ant Financial denied that the companies were in talks.&nbsp;<\/p>\n\n\n\n<p>Grab\u00a0<a href=\"https:\/\/www.grab.com\/sg\/press\/business\/grabs-new-one-north-headquarters-to-house-up-to-3000-employees-and-its-largest-rd-centre\/\">announced<\/a>  last week that it had broken ground on a new headquarters in Singapore that would accommodate up to 3,000 employees as well as a research and development center.\u00a0<\/p>\n\n\n\n<p>Grab Financial Group also\u00a0<a href=\"https:\/\/www.grab.com\/sg\/press\/others\/grab-financial-group-announces-comprehensive-suite-of-financial-services-for-southeast-asias-micro-entrepreneurs-and-smes-to-grow-with-grab\/\">announced<\/a> a \u201cGrow with Grab\u201d initiative last month, launching lending and insurance services for its drivers in Singapore. The roadmap for the program includes other financial services, such as installment payments and an online checkout payment method, for eligible micro and small businesses, the company said.<\/p>\n\n\n\n<p>\u201cWe are doubling down on our financial services offering for micro-entrepreneurs with \u2018Grow with Grab,\u2019\u201d Reuben Lai, senior managing director, Grab Financial Group, said in the announcement.&nbsp;<\/p>\n\n\n\n<p>\u201cThis is a huge untapped opportunity for Grab Financial to support the region\u2019s entrepreneurs who are less able to access traditional financial institutions. While SMEs contribute more than 50% of ASEAN\u2019s GDP, two thirds of SMEs cite business funding and financing as their biggest problem. The Grab app has served more than 9 million micro-entrepreneurs over the last 6 years. As a result, we can leverage our scale and data insights to bring financial services products to market at a more competitive price point than anyone else,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As part of its continued initiative to become the \u201ceveryday app\u201d for Southeast Asia\u2019s local marketplace, Grab is reported to be looking to some big players to help expand its financial services segment.<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[1015],"tags":[54,363,366,658,917],"class_list":["post-4536","post","type-post","status-publish","format-standard","hentry","category-archive","tag-ant-financial","tag-grab","tag-grabpay","tag-paypal","tag-uber"],"acf":[],"_links":{"self":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/4536","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/comments?post=4536"}],"version-history":[{"count":2,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/4536\/revisions"}],"predecessor-version":[{"id":8244,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/4536\/revisions\/8244"}],"wp:attachment":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/media?parent=4536"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/categories?post=4536"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/tags?post=4536"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}