,Singapore

Grab and UOB form digital payments service alliance

Customers can pay and top up their GrabPay wallets directly from their UOB bank accounts.

Grab and United Overseas Bank (UOB) have entered into a strategic alliance to accelerate the use of digital services amongst ASEAN’s tech-savvy consumers, an announcement revealed.

The partnership enables UOB to provide financial services to Grab’s user base, as well as accelerate the bank’s efforts in meeting the needs of the region’s ‘mobile-first’ and ‘mobile only’ consumers.

“Under the alliance, UOB will become Grab’s preferred banking partner in Singapore,” the firms said in a joint statement. “UOB will also be a strategic credit card partner for Grab in Singapore, Indonesia, Malaysia, Thailand and Vietnam.”

In addition, UOB will be providing support for Grab such as fleet financing, regional and centralised treasury management solutions and workplace banking services.

Meanwhile, the partnership in return will allow Grab to tap into UOB’s cash management services to provide customers a number of payment solutions, as well as enable consumers to top up their GrabPay wallets directly from their bank account.

“We are thrilled to welcome UOB as our strategic partner in Singapore and across the region,” Grab CEO and co-founder Anthony Tan said. “By combining our strengths, we will offer consumers more convenient payment services regionally and help more people move from cash to cashless.”

Both firms are also reportedly exploring the possibility of launching co-branded credit cards in ASEAN. 

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Module integration and completion are not part of its responsibilities.
The company says it will continue to welcome feedback from workers.
OneMap3D data from ERA will be incorporated into its RealtyWatch mobile apps
$500,000 was contributed to the library's Green Grove showcase.
He has over 25 years of experience in business and risk roles.
The country also won 'Best Seaport in Asia' for the 33rd time.
Flight bookings were made available on 22 October.
Sembcorp Industrialshowed the most growth.
Analysts said there are three factors that drove the price growth.
Prices of private residential properties rose by 1.1% in Q3, marking the sixth consecutive quarter of growth.
72% of Singaporeans were aware of the term 'ESG.'
This strong performance was due to the recent acquisitions by the company.