Ride-hailing app Grab in collaboration with Indonesia’s Lippo Group will build a mobile payments wallet, reports Tech in Asia.
A Grab spokesperson said that the first stage of the rollout will begin in the fourth quarter.
“Lippo Group will develop a universal payments platform that enables Indonesians to top up an emoney account and use it to pay digitally at Lippo companies. Grab will integrate the payments platform into the Grab app as a mobile wallet option within GrabPay, enabling any mobile user to use the Grab app to pay for not only their daily transport needs, but also other lifestyle services.”
Indonesia’s digital payments landscape is notoriously fragmented. Each major bank is working on its own virtual wallet, roping in its network of vendors, but leaving consumers overwhelmed with options.
The Grab spokesperson comments, “the payments platform will initially be available for use at Lippo Group companies and to pay for Grab rides in Indonesia.”
This means that over 50 million existing customers from the two companies will be able to pay via their mobile phones for a full suite of services from Lippo’s retail companies.
The two companies sealed the terms of the joint venture in March. Lippo invested in Grab as part of the deal.
A version of this appeared in Tech in Asia on July 22. Find the full version here.