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February 1, 2019

UOB and Grab announce series of digital initiatives

United Overseas Bank (UOB) has announced that ride-hailing app Grab will now offer UOB Cards solutions and privileges directly on its mobile app as part of a digital strategic alliance they first announced in November last year.

To start with, consumers can now apply for UOB One Card directly from the Grab app or by scanning QR codes found in Grab cars in Singapore.

UOB added that its cardmembers can also avail a suite of privileges when they use Grab services such as   cashback of up to 10% on all Grab rides when they pay with the UOB One Card.

They can also avail a credit card sign-up offer of Grab vouchers worth S$100. Furthermore, all UOB Reserve Card customers will automatically qualify for the GrabRewards’ Platinum tier.

UOB head of personal financial services Singapore Jacquelyn Tan said: “Our alliance with Grab enables us to create greater value for our customers who commute a lot. In the past year alone, UOB cardmembers took an average of close to a million Grab rides a month.

“This makes the Grab app an ideal platform on which customers can enjoy special privileges and make selected banking transactions, whether it is applying for a new UOB credit card or paying for their rides using their reward points,” Tan added.

Going forward, the partners also plan to club UOB’s rewards and dining privileges programmes into the Grab app.

UOB also disclosed that it will integrate Grab’s booking function into its mobile banking app, UOB Mighty.

In December last year, Grab joined forces with Filipino retail and real estate conglomerate SM Investments to accelerate the use of its mobile wallet GrabPay in the Philippines.

A month prior to that, Grab collaborated with Thailand’s Kasikornbank (KBank) to launch GrabPay in Thailand.

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