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Fintech at core of Grab's $700m investment plans in Indonesia

Southeast Asia's largest unbanked population is already wired

Grab CEO Anthony Tan, third from right, made his latest digital technology pitch to officials in Jakarta Feb. 2.

JAKARTA -- Grab, the most widely used ride-hailing app in Southeast Asia, announced Thursday plans to invest $700 million in Indonesia over the next four years, most of it to develop mobile payment and financing services.

In addition to cash and regular credit cards, Grab launched GrabPay and GrabPay Credits last year to enable customers to pay for its services using credits.

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