Grab Boosts E-Wallet Adoption via Partnership with Philippines’ SMIC

Written by: admin on December 6, 2018

Grab Partners with SMIC for Higher E-Wallet Usage in the Philippines

Grab has recently partnered with SM Investments Corporation (SMIC), Philippines’ largest company, to boost its e-wallet’s reach in the country. This alliance will allow Grab users to use GrabPay to pay for goods and services in over 2,200 SM stores, including cinema tickets, shoes, clothes, and groceries. SMIC owns a total of 70 malls in the Philippines.

Other than for payments, GrabPay users can also top up their e-wallets at SM-owned banks, such as Banco de Oro (BDO). BDO owns 1,200 branches and more than 4,200 ATMs in the country, making them Philippines’ top bank by assets.

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Japan-based DeNA Debuts Free Car-Hailing Service

DeNA, a Japan-based online service developer, has launched their free car-hailing campaign. This meant riders can ride any of the 50 vehicles covered with instant noodles ads from Nissin Foods Holdings free of charge as the taxi fares are paid by DeNA and the advertiser, taking passengers from central Tokyo to any of the 23 wards in Tokyo.

In the future, DeNA aims to partner with other sponsors from a plethora of businesses. Other ideas that it has includes planning rides around a user’s calendar by synchronizing with a calendar app and arranging rides as users reserve for restaurants. Through these initiatives, DeNA wishes to not only connect non-taxi riders with taxis but also help taxi operators gain a steady source of income.

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Shopee Philippines Gets Ready for 12.12 Big Christmas Sale Event

As 12.12 gets closer, along with Shopee Philippines’ Christmas Ambassador Jose Mari Chan, the e-marketplace is inviting everyone to participate in giving back. To give back, customers are invited to buy Jose Mari Chan’s going Home to Christmas album in Shopee’s JMC Music Official Store from November 29 to December 11. Proceeds from here will be given to San Juan Nepomuceno School. Buyers will also be eligible to win two roundtrip tickets to Cambodia, Brunei, or Macau.

Other than this event, from now until December 12, Shopee will offer discounts up to 99% for leading brands such as Vivo, Maybelline, Unilever, and P&G. Users can also participate in its new in-app game, Shopee Quiz, and Shopee Shake or get free shipping promotions and flash sales.

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Alibaba Signs Ecommerce Agreement with Belgium

As part of Alibaba’s Electronic World Trade Platform (eWTP) initiative, the Chinese ecommerce giant has signed an ecommerce agreement with Belgium. This agreement with Belgium follows previous agreements done with Malaysia and Rwanda.

Under this agreement, Alibaba will be launching an ecommerce trade hub in the country, which entails logistics investments. Cainiao, Alibaba’s logistics arm, will also lease out a 220,000 square meter logistics port located at Belgium’s Liege airport and invest $85 million in the project.

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Fintech Startup Jirnexu Scores $10 Million form Experian

Kuala Lumpur-based fintech startup Jirnexu has received $10 million in funding from Experian, a consumer credit reporting agency. Jirnexu combines deals and offerings from banks and financial services for customers in Malaysia and Indonesia.

This investment follows Jirnexu’s Series B round, which garnered $11 million, making the total amount of investment funds from investors to $28 million. This is the third investment made by Experian in an Asian-based fintech company. Experian previously invested in Singapore’s C88 and India’s Bankbazaar.

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Vietnam Sees Value of Cashless Transactions Increase Over Twofold

For the first three quarters of 2018, the value of cashless transactions in Vietnam increased by more than twofold to 18.3%. While mobile transactions increased by 126%, e-wallet usage increased by 161%.

One reason for the increase in cashless transactions is because of fintech developments, including QR codes, credit card tokenization, and contact and contactless payments. As of October, there are 1.3 million online banking accounts and 1.1 million mobile banking accounts in Sacombank. For competitor VietinBank, there are 1.5 million internet banking users.

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