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Grab lets Southeast Asians shop globally with Mastercard deal

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

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

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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