Today, it extended that further still by introducing micro-loans and insurance options for Grab drivers and businesses that use its GrabPay services.
Grab, widely known as "Southeast Asia's Uber", operates services in 191 cities in eight countries, with mobile downloads totaling about 86 million.
The firm added the JV will offer credit scoring services to financial institutes who can use the information to provide other services such as virtual credit cards as well as seeking constant partnership with other banks and financial institutions in Southeast Asia and beyond. Hence, this news might be a start to something big Grab has planned.
The service will be rolled out this year to all the Southeast Asia markets Grab is in now, the executive said. "GFSA is building a reliable alternative to traditional credit scoring methods that is customised for the unbanked majority of consumers and small businesses in Southeast Asia, which will create economic opportunity for millions across the region", said Jason Thompson, Managing Director, GrabPay Southeast Asia.
Using the data, combined with Credit Saison's expertise in credit scoring, risk management and product formulation, the new entity can offer a range of lending products and services mentioned above, Grab said. Grab also announced that it has teamed with Chubb Ltd to provide insurance coverage to all of Grab's drivers. Already, he added, Grab has a loan book in excess of $700 million thanks to campaigns to provide vehicle financing, insurance and more.
Today, the Grab app has been downloaded onto over 86 million mobile devices, offering private auto, motorbike, taxi, and carpooling services, as well as on-demand food and delivery services across 191 cities in 8 countries in Southeast Asia.
It said the joint venture with Japan's Credit Saison will initially focus on providing loans to Grab drivers and merchants for purchasing smartphones or working capital. It has a network of 2.6 million drivers and offers ride-hailing, on-demand food and delivery services.
It previously also led an investment into Shopback, the leading cashback site in Southeast Asia.
The move comes as Tencent's WeChat Pay and Alibaba Group Holdings' affiliate Alipay expand into Southeast Asia - home to some of the world's fastest-growing economies with about 640 million people and an active mobile user base.
And they may be the bigger victor behind the scenes.
The US recorded a US$215 billion (RM838.8 billion) budget deficit in February - its biggest in six years - as revenue declined. In February, employers started using tax tables that withhold less from paychecks based on the new law.
Djokovic scrambled to win the second set but looked rusty on stadium court, making 62 unforced errors compared to 29 for Daniel. Daniel, who is ranked 109th in the world, advanced to the third round where he will face Gael Monfils of France.
Despite these increases, Brent and WTI are on course for weekly declines of nearly 1% and 1.7%, respectively. Brent crude futures were at $65.38 per barrel, down 11 cents, or 0.2 percent, from their previous close.
Shahid Kapoor was last seen as Maharawal Ratan Singh in Padmaavat which was the most controversial movie in the longest time. Shahid, who is on a three-film contract with KriArj, has wrapped up the first film Batti Gul Meter Chalu .
Diddy's Bad Boy label. 'He was prepared for whatever comes, to go home to the Lord. "He was prepared to do that". EPMD's Erick Sermon said Mack had been working on new material at the time of his death. "That's more than most".
After $0.66 actual EPS reported by Sysco Corporation for the previous quarter, Wall Street now forecasts 0.00% EPS growth. The stock of Exxon Mobil Corporation (NYSE:XOM) earned "Equal-Weight" rating by Barclays Capital on Monday, October 12.
But "it introduces a lot of uncertainty", says Wendy Cutler, a former US trade official now at the Asia Society Policy Institute. He said the tariffs would also hurt the USA auto industry and result in higher costs for consumers on both sides of the border.
Redmi 5 to be available on Amazon.in from tomorrow
Alternatively, you can manually verify for the presence of the update by tapping Software Settings from within your device. Notably, Xiaomi has reportedly already started rolling out the MIUI 9 to some of the mentioned smartphones.
(NYSE:ORI) Holdings Reduced by Advisory Services Network LLC
Why is EPS essential to watch? The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.49 and a current ratio of 0.49. The firm owned 9,023,085 shares of the insurance provider's stock after buying an additional 1,257,200 shares during the period.