Wide-Ranging MOU between Grab and Samsung to bring Benefits of Technology to Millions Across SEA
Grab, an on-demand transportation and mobile payments platform in Southeast Asia, and Samsung Electronics, a global electronics company, today announced that they have signed a multi-year MOU to drive digital inclusion in Southeast Asia.
Grab and Samsung will work together on a wide range of initiatives to bring the benefits of technology, such as enhanced customer experiences and improved income opportunities, to millions of consumers and Grab driver-partners across Southeast Asia.
Grab is a market leader in ride-hailing in Southeast Asia, an industry that is one of the fastest growing Internet services sectors and expected to be a $25 billion/£17.6 billion market by 2022 in this region.
As part of the wide-ranging strategic collaboration, both companies will develop customised solutions for the ride-hailing industry, including micro-financing schemes for Grab’s over 2.3 million driver-partners, improved customer booking and in-car experiences, and new mobility solutions.
The two companies will also work together to expand into Southeast Asia’s fragmented mobile payments ecosystem and provide a mobile payments solution that will serve the needs of consumers in Southeast Asia.
“Southeast Asia is home to the world’s fastest growing emerging markets, yet many in the smaller towns and cities do not have easy access to the growing digital economy. Mobile technology can bridge the infrastructural divide and make economic growth more inclusive.
“Samsung is one of the world’s most innovative technology companies, and we are thrilled to partner with them to empower more people in Southeast Asia to improve their livelihoods and provide more digital services for everyone on the Grab platform,” said Anthony Tan, Group CEO and Co-founder, Grab.
“Here at Samsung, developing meaningful innovations for the betterment of our consumers’ lives is always at the heart of what we do. We believe in the Internet of Things; the various benefits a more digitally connected world brings, and we are excited to be partnering with Grab to provide consumers within the region an enhanced array of digital solutions for their everyday needs.
“Through this collaboration, we hope to explore how we can work together to tap into the massive growth opportunity of Southeast Asia’s digital economy,” said Sangchul Lee, President and CEO, Samsung Electronics, Southeast Asia & Oceania.