Following a strategic alliance between Grab and UOB inked in November 2018, the two partners have announced an integrated suite of digital initiatives and customer benefits.
Ride-hailing giant Grab will soon begin offering a suite of UOB cards solutions and privileges directly on its mobile app, the two partners announced in a press release on Thursday.
Grab users will be able to apply for the UOB One card directly from the Grab app or by scanning quick response (QR) codes in Grab vehicles in Singapore. UOB cardmembers will also be able to access a range of Grab privileges, including discounts on Grab rides, cash back, credit card sign up offers and more. Additionally, all UOB Reserve Card customers will automatically qualify for the GrabRewards’ Platinum tier.
«In the past year alone, UOB cardmembers took an average of close to a million Grab rides a month. This makes the Grab app an ideal platform on which customers can enjoy special privileges and make selected banking transactions,» Jacquelyn Tan, head of personal financial services Singapore, UOB, said.
Integration of Apps
UOB said it would soon integrate its rewards and dining privileges programs into the Grab app, and integrate Grab's ride booking function into its UOB Mighty mobile banking application. Additionally, integration of Grab's ride booking function with UOB Mighty’s restaurant reservation portal will allow UOB customers to make a reservation and book a ride there seamlessly.
«With Grab’s and UOB’s strengths, we are confident that we can make paying for daily transactions with Grab easier and ultimately move more consumers from cash to cashless,» Ooi Huey Tyng, managing director of GrabPay Malaysia, Singapore and the Philippines, said.
Fight for Domination
In November 2018, Singapore bank DBS announced a regional strategic partnership with rival Go-Jek, based in Indonesia, to provide payment services. Backed by the likes of Tencent, JD.com and Temasek Holdings, Go-Jek launched its services to commuters in Singapore in January, after a beta phase that began on 29 November 2018.
Seemingly in response to this announcement, Grab and UOB then announced a strategic partnership to «fuel Grab’s ambition to build ASEAN’s first everyday «super app» and complement UOB’s efforts to scale up its regional customer franchise.»As part of the partnership, UOB said it would explore support for Grab in a number of areas, including fleet financing, regional and centralised treasury management solutions, and workplace banking services.
