Singtel and GrabTaxi in regional mobile wallet tie-up

SINGAPORE Telecommunications (Singtel) has teamed up with GrabTaxi on a mobile wallet for the taxi app in the region.

Through the tie-up, mobile customers of telcos such as AIS, Globe and Telkomsel will be able to book vehicles through the GrabTaxi app and pay for rides using their personal mobile wallets, Singtel said on Wednesday.

The platform that will make this service possible is expected to be integrated with the GrabTaxi app by mid-2016, according to Singtel.

"Telco billing relationships are a key enabler in developing markets, where less than 10 per cent of the population own credit cards or bank accounts," said Mark Chong, CEO International of Singtel.

Singtel and GrabTaxi on Wednesday signed a memorandum of understanding (MOU) to promote the use of the telco's mobile wallet services on the taxi app to mobile customers in the region.

As part of the MOU, GrabTaxi drivers will be encouraged to use their mobile wallets to accept payments, Singtel said.

GrabTaxi drivers will also be offered customised data-centric mobile plans that are "tailored" to their higher data usage needs.

"People in Southeast Asia are hyperconnected on mobile, and it's our goal to provide another payment option for passengers via a channel they are familiar with," said Anthony Tan, CEO and co-founder of GrabTaxi. "GrabTaxi passengers will soon have the option to streamline their payments, including transport expenses, to one mobile wallet and reduce reliance on carrying cash."