Consumers can first apply for and receive a digital card — which can be added to their Samsung Pay wallet so they can make offline payments with it, in addition to digital ones — and then request a numberless physical card as well. The digital card is now available in Singapore and will be rolled out in the Philippines in Q1 2020, before hitting other SEA countries in the first half of 2020.
Grab is looking to use GrabPay Card to become a bigger player in SEA's surging payments industry. The region's consumer payments gross transaction volume is to rise from $1.4 trillion in 2019 to $2.3 trillion by 2025, presenting a significant revenue opportunity for Grab. But e-wallets are only expected to account for $114 billion in GTV in 2025, while overall digital payments, which includes e-wallets, cards, and more, are forecast to total $1.1 trillion in 2025.
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