Singapore – Southeast Asia’s largest ride-hailing group plans to take its mobile payments service into Cambodia and Myanmar as it expands its range of businesses throughout ASEAN countries, according to a senior executive.
Reuben Lai, senior managing director of the Singapore-based company’s financial arm, identified the two countries as next on the list. Grab’s ride-hailing app is already available in these markets, as well as six other ASEAN countries.
The 6-year-old startup, which does not intend to expand outside of the Association of Southeast Asian Nations, expects to grow its payments service by tapping the potential of the bloc’s combined population of 650 million, a large portion of which is unbanked.
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