Social Mixer 2024 Singapore
marketing interactive Content360 Singapore 2024 Content360 Singapore 2024
Grab PH to reportedly expand into fintech market

Grab PH to reportedly expand into fintech market

share on

Ride-hailing and food delivery company Grab Philippines is reportedly looking to expand its financial service offerings and is eyeing a chunk of the Philippines fintech market.

While the company does want to finance individuals other than its driver and merchant ecosystem in the future, it is currently focused on supporting the company’s ecosystem, said Martha Elaine Borja, country head, Grab Financial Group PH, as reported by ABS-CBN News.

Don’t miss: SG competition watchdog raises concerns over Grab and Trans-Cab takeover

Grab Financial Group Philippines said it has already been providing sachet financial services to its partner drivers and food merchants for at least three years now. The services include micro-insurance products for their drivers and merchant cash advances to allow merchants to boost their businesses.

Grab’s thrust is to provide social economic empowerment in Southeast Asia which is why Grab also looks at new business models and tools for its various stakeholders, added Borja.

Borja reportedly also said that the company has a lot of headroom in terms of growth in the coming year.

This comes shortly after hundreds of riders reportedly protested along Tomas Morato in Quezon City over the alleged unfair labour practices of Grab.

According to PhilStar Global, members of the National Union of Food Delivery Riders opposed the implementation of Grab’s new fare matrix, saying it would greatly reduce their earnings.

Riders also reportedly accused Grab of inadequate health insurance as the company only offers medical reimbursement.

The biggest conference is back! Experience the future of marketing with 500+ brilliant minds at Digital Marketing Asia on 28 - 30 November in Singapore. Uncover groundbreaking strategies that connect leading brands with their target audiences effectively.

Related articles:
Grab makes comeback as most positively talked about brand amongst SG youths
Grab ceases operations of investment products AutoInvest and Earn+ in SG
Foodpanda owner in talks to sell part of Asia business, Grab reportedly a potential buyer

share on

Follow us on our Telegram channel for the latest updates in the marketing and advertising scene.

Free newsletter

Get the daily lowdown on Asia's top marketing stories.

We break down the big and messy topics of the day so you're updated on the most important developments in Asia's marketing development – for free.

subscribe now open in new window