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Grab Introduces Instant Cash Out Feature for Driver–partners

Grab, Southeast Asia’s leading ride-hailing and mobile payments platform, introduced Instant Cash Out feature for its driver-partners as part of its long-term commitment to driver partners’ welfare.

Jakarta, 18 August 2017 – Grab, Southeast Asia’s leading ride-hailing and mobile payments platform, introduced Instant Cash Out feature for its driver-partners as part of its long-term commitment to driver partners’ welfare. All Grab driver partners with CIMB Niaga bank accounts can instantly transfer fares into their bank accounts, and withdraw their earnings at any of the bank’s ATMs without having to wait for the standard processing time of one working day.

Mediko Azwar, Marketing Director, Grab Indonesia said, ”At Grab, drivers are listened to and their feedback is acted upon. Bringing the convenience and security of payment with nothing more than a few taps on their smartphone is another example of our determination to better serve our driver partners as a part of Grab’s longstanding mission in improving their lives.”

As cashless payment via GrabPay becomes more popular among commuters, the new feature will accelerate the encashment process. For many of driver-partners, Grab is their entry point into the banking system. New driver-partners are required to provide a bank account as of part Grab registration process so they can receive incentives and encash fares made through GrabPay. If they don’t have an account, Grab helps them apply for one on the spot. This way, Grab is helping to “pull” thousands of driver-partners into Indonesia’s banking sector – every single day.

“We understand many of driver partners are still hesitant to accept cashless payments due to the extra processing time for credit and debit card transactions. We believe that our latest Instant Cash Out feature will encourage them to embrace the convenience of cashless payment. Whenever our driver-partners receive and encash their earnings, they become more familiar with cashless transactions, easing their entry into the digital economy.” Mediko added.

The convenience of going cashless for more seamless rides has been winning over more users as it extends the safety by reducing dependence on physical cash.

Hope for Indonesia

Beyond business, Grab has always been about giving a positive impact to the society. Its platform is a means of connecting and providing access – not just to products and services, but to opportunities and change that facilitate personal, economic, and national growth bringing hope for Indonesians of a better tomorrow.

Hundreds of thousands of driver-partners have experienced personal and technological breakthroughs by embracing the use of technology in the form of smart devices and cashless payments giving them the opportunity to become micro-entrepreneurs and build sustainable livelihoods.

Kudo is supporting a massive expansion of Grab’s driver-partners and helping to bridge the online and offline worlds by letting Indonesia’s unbanked consumers shop and pay for online purchases, via a network of over 400,000 agents in 500 cities and towns across Indonesia. This partnership will advance Grab’s mission to provide millions across Indonesia better access to cashless payments and new income opportunities, and unlock new ways to move transactions and services online. Separately, Grab drivers will be able to access new revenue streams through the Kudo app by becoming agents themselves and sell online goods to consumers in turn.

Grab is currently operating in 52 cities in Indonesia, creating job opportunities in 500 cities in the country and increasing income up to 34 per cent compared to average wage. Thousands even millions more people will benefit from the digital economy by the end of 2017 through the use of transformative power of technology and deliver more value to move Indonesia forward.

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About Grab

Grab is Southeast Asia’s leading on-demand transportation and mobile payments platform. Grab solves critical transportation challenges to make transport freedom a reality for 620 million people in Southeast Asia. Grab’s core product platform includes transport solutions for drivers and passengers with an emphasis on convenience, safety and reliability, as well as its proprietary mobile payments platform, GrabPay, which is increasing access to mobile payment solutions for millions of Grab riders and drivers across Southeast Asia and deepening financial inclusion in the region. In Indonesia, Grab’s network of 500,000 agents is helping the unbanked and underbanked utilize GrabPay’s platform to participate in the digital revolution. Grab currently offers services in 65 cities across Singapore, Indonesia, Philippines, Malaysia, Thailand, Vietnam and Myanmar. For more information, please visit: http://www.grab.com.

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