founded by Harvard Business School graduates, from the same year. Both have apps that have been downloaded more than 100m times. Both started with ride-hailing and expanded into other logistics businesses, such as deliveries and food-ordering. The story of two South-East Asian “deca-unicorns”—fintechs valued above $10bn—is usually told in terms of their rivalry. This report is more concerned with how ride-hailing services can bring banking to the masses in a largely unbanked region.
At first, the pair’s apps simply put customers and drivers in touch, with payment in cash. Since 75-80% of South-East Asians are unbanked, enabling customers to go cashless required lateral thinking. Inspiration came from the way kiosks and convenience stores sell mobile-phone credit. Now drivers act like mobile top-up stations for in-app credit. Passengers can hand over extra cash on top of their fare and ask the driver to add it to their balance in the app.
The biggest obstacle for each is slow adoption by retailers. Speeding things up means persuading retailers that new ordering and payment options will increase profits. Grab says its average cashless user makes twice as many transactions as one who pays in cash, and is 30% more likely to use several of its services rather than just one.
Source: Financial Digest (financialdigest.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
A bid to grab power in Venezuela, and more from our daily podcastAlso, the sociology of coup prediction and what an incident in Madrid tells us about North Korean dissidents Dictators don't face coups, they face rebellions.
Source: TheEconomist - 🏆 6. / 92 Read more »
Chelsea grab top-four spot as rivals self-destruct againWhile the Premier League title race has been contested by two thoroughbreds the ... That was a good save from kepa Top 3. Let’s be honest they should get a shot 🤣🤣🤣🤣 ManUtd being in the top four year after year must be boring somethingtofightfornextseason🤔🤔🤣🤣🤣
Source: Reuters - 🏆 2. / 97 Read more »
Big vegan brands snag loyal customers when they’re in collegeBeyond Meat is aiming to build loyal Generation Z customers before they even collect a paycheck, hoping that if their plant-based products resonate when a student is on a meal plan, it will still resonate when he’s buying his own groceries. He ? ... lol Hard pass! No way!!!! Thank you President Trump. Making America great again!
Source: latimes - 🏆 11. / 82 Read more »
Like to nap? Mattress Firm's summer Snoozetern internship lets you sleep on the jobMattress Firm has an unusual summer internship, a Snoozetern position, in which you test mattresses and beds, and perhaps grab some Zs. Pretty much a sure thing a customer won't walk in and disturb your nap... Im not a good napper. But I love lounging! My mattress sucks!! Too bad it's not a full time job.
Source: USATODAY - 🏆 100. / 63 Read more »
Falcon flightsElon Musk’s SpaceX is scheduled on Friday to launch its first resupply mission to the International Space Station this year after a series of delays. Last month, SpaceX’s 23-story-tall Falcon Heavy, the world’s most powerful rocket, launched its first commercial mission in a race to grab lucrative military contracts. Here’s a look at all of SpaceX’s missions to date. juledurg It's amazing- on the same planet that we have cutting edge technology to improve the species, we have greedy religious politicians trying to do the exact opposite. one enlightens the mind, science one enslaves the mind, religion
Source: Reuters - 🏆 2. / 97 Read more »
Fox News' Jeanine Pirro says an investigation into attempted 'coup' by Democrats against Donald Trump is underway'It’s time to investigate the beginning of the coup and who in the DOJ, FBI and White House signed on to prevent and overturn the will of the American people. Grab your popcorn, folks. It’s showtime,' Pirro said. Mmmmmk. She is such a LIAR!!!!! Good
Source: Newsweek - 🏆 468. / 52 Read more »