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12/5/2019, 1:08 PM (Source: TeleTrader)
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Grab, Mastercard unveil numberless card

Grab, Asia’s largest ride-hailing firm, has launched a numberless card with Mastercard, the company announced on Thursday. The GrabPay Card, Asia’s first numberless card, will allow Grab users to make purchases at any of Mastercard’s more than 50 million outlets.

The GrabPay Card will be available in physical and digital versions and, if used for overseas transactions, will display exchange rates or fees in the GrabPay app. It will also feature insurance coverage (e.g. in the case of non-delivery of an online-purchased item) and a PIN-protected lock card function. Earlier this year, Grab announced its plans to become one of the region’s largest financial services providers.

Mastercard executive vice president, Rama Sridhar, commented: "GrabPay users will be able to transact safely, securely and effortlessly with one of the first e-wallets from Southeast Asia that offers worldwide acceptance."

Breaking the News / DD