Southeast Asian super app Grab has launched a digital-first prepaid card powered by Mastercard in the Philippines.
The new card offering is part of Grab’s initiative to promote cashless payments in the country in order to curb the spread of the coronavirus.
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The digital GrabPay Card is laced with sophisticated security options, online payments and expanded rewards ecosystem for Filipino customers.
Grab intends to expand its footprint globally with the new digital-first prepaid card offering.
GrabPay card features
The digital card allows Grab app users to pay online at nearly 53 million merchants worldwide that accept Mastercard cards, without needing a bank account.
The card details are stored within the app, which has a card lock function that allows the users to suspend payments instantly using Face ID, fingerprint authentication or a PIN.
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By GlobalDataThe app users can earn additional GrabRewards points by using the new card to purchase online, pay for digital subscriptions, or transact locally and globally.
The cardholders also get mobile protection insurance, which allows them to pay for mobile post-paid phone bills and receive protection against accidental damage or theft.
In addition, the cardholders are also covered by e-commerce protection in case their online orders include wrong or defective items and incomplete or non-delivered items.
GrabPay Philippines head Jonny Bates said: “The launch of the digital GrabPay Card powered by Mastercard supports our mission of providing safer transactions and bringing more cashless opportunities to Filipinos not only for local transactions but also everywhere in the world.”
Mastercard Philippines country manager Rowell Fierro said: “Mastercard is pleased to further expand the partnership with Grab in Southeast Asia with the launch of GrabPay Mastercard in the Philippines.
“This partnership also gives GrabPay users access to an e-wallet that is now accepted worldwide, unlocking a whole new world of possibilities for them.”
