Singapore-based ride-hailing company Grab has rolled out a new numberless payment card in collaboration with Mastercard.
Dubbed GrabPay Card, the new offering is available in both physical and digital card formats.
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Touted as the first numberless card in Asia, GrabPay Card will offer an expanded rewards ecosystem and Grab payments integration to boost cashless payments in Southeast Asia.
Using GrabPay Card, the cardholders – with or without a bank account – can make payments online or offline at almost 53 million merchants across the globe.
Grab users will be able to earn GrabPay reward points for shopping at any merchant that accepts Mastercard cards or for Grab services.
The front and back portion of the physical version of the card is completely numberless which eliminates any possibility of data theft.
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By GlobalDataThe card also features PIN-protected in-app lock card functionality, which enables users to immediately block payments if their card is lost.
To combat online fraud, the GrabPay Card provides an additional layer of protection with 3DSecure technology.
GrabPay managing director Huey Tyng Ooi said: “As the leading everyday super app in Southeast Asia, we are at an inflection point in the adoption of digital payments.
“The GrabPay Card, powered by Mastercard, is a continued evolution of GrabPay. We will continue to add features to the wallet and card to enable our users to enjoy simpler, more flexible digital payments experience.
“This partnership with Mastercard moves us toward an open payments ecosystem, allowing users to earn and redeem reward points across millions of merchants and represents an important step for GrabPay in becoming a truly Asean wallet.”
Initially, the GrabPay Card will be offered in Singapore. It is expected to be made available in the Philippines in the first quarter of next year.
A broader roll-out of the card in Southeast Asia will take place during the first half of next year.
