Grab lets Southeast Asians shop globally with Mastercard deal

Singapore startup eyes wealth management and virtual bank as next finance moves

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Grab claims its app has been downloaded over 160 million times. (Photo by Ken Kobayashi)

KENTARO IWAMOTO, Nikkei staff writer

SINGAPORE -- Grab is extending the reach of its mobile payment app as the Singapore-based digital startup seeks vast opportunities in Southeast Asia's underserved financial markets.

On Dec. 5, Grab introduced a prepaid card under a partnership with Mastercard that lets users pay for purchases with their GrabPay e-wallet balance at merchants anywhere in the world that accept the credit card.

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