Under the new partnership, users will be able to use their Grab app to pay for transactions in all Lippo Group’s retail companies, from department stores, hypermarts, cinemas, coffee shops, to e-commerce platforms.
“We commend the government’s efforts to push Indonesia towards a cashless society and look forward to contributing towards this goal. Grab’s partnership with the Lippo Group to develop a universal payments platform will be a leap forward for e-money in Indonesia. With a rapidly growing middle class, people will want to have a mobile wallet option in the Grab app, which they can use every day, whether for transport, or payments for basic transactions,” said Anthony Tan, Group CEO and Co-founder of Grab, in an official statement.
The universal payments platform will be rolled out at Lippo Group companies and integrated with the Grab app in phases from Q4 2016.
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The two companies first announced their strategic partnership in March, in which Grab was providing logistics expertise for the O2O side of Lippo’s MatahariMall.
According to Adrian Suherman, Lippo Group Director who heads its digitisation initiatives, the group is set to introduce “more partner services and merchants as well” for the initiative.
Grab recently revealed Indonesia as its biggest market, citing that its motorbike taxi-hailing service GrabBike and car-sharing service GrabCar has grown 250 times since mid-2015.