Wirecard to process GrabPay transactions for MSMEs

It will also expand GrabPay to more merchants.

Wirecard and Grab have partnered to allow the former to process GrabPay e-wallet transactions for MSMEs in Malaysia, the Philippines and Singapore, according to a news release.

Wirecard will handle card payments through its digital financial commence platform and will extend GrabPay to more merchants.

In February, Grab raised $1.19b in a funding round led by Mitsubishi UFJ Financial Group (MUFG) and Japanese IT firm TIS. The money will be used for its lending, insurance, and wealth management business for customers and SMEs in Southeast Asia.