Grab partners Lippo Group to implement mobile payments platform

RIDESHARING app Grab and Indonesian consumer conglomerate Lippo are partnering to implement an e-money payments platform in Indonesia.

The new platform will be integrated with the Grab app as a mobile wallet option that can be used to pay for Grab rides and services across Lippo's retail companies including department stores, hypermarts, cinemas, coffee shops and e-commerce, both companies announced on Friday.

Grab co-founder and chief executive Anthony Tan said: "The potential of developing a mobile payments platform in South-east Asia is limitless. The majority in South-east Asia are unbanked but are armed with mobile phones."

Mr Tan added that the Grab-Lippo collaboration to develop a universal payments platform is aligned with the Indonesian government's efforts to drive Indonesia towards a cashless society.

The platform will be rolled out at Lippo Group companies and integrated with the Grab app in phases from Q4 2016.

Lippo Group is reportedly an early investor of the Singapore-based ridesharing startup.