Grab looks to mobile payments

The Grab logo at its main office in Midview City at Sin Ming Lane on June 23, 2017.
The Grab logo at its main office in Midview City at Sin Ming Lane on June 23, 2017.ST PHOTO: KUA CHEE SIONG

SINGAPORE - South-east Asia's ride-hailing giant Grab has its eye on setting up payments and financial services in the region in the next five years.

Grab president Ming Maa told a conference on Thursday (July 20) that mobile payments are the next big thing it is looking at, as part of its focus on consumers, drivers and riders alike.

It is also looking at other ways of helping consumers save money.

The firm also credits its success to being "hyper-localised", focusing on the specific needs of each country it is in - including Myanmar and Indonesia - given that South-east Asia is a fragmented market.

"One size doesn't fit all," said Mr Maa, and it is about understanding the consumer better than the market can.