January 2018 in Singapore Payments in the fast lane for Grab drivers
Grab, the leading ride-hailing and payments platform in South-East Asia, partnered with TransferTo to support their growth plans and maintain their competitive advantage across Southeast Asia with a new on-demand payroll service.
TransferTo Mass Payouts solution enables Grab’s drivers to instantly collect their daily earnings with their GrabPay mobile wallet at the end of their shift. TransferTo's real-time payments Network is integrated with major banks in Singapore and across Southeast Asia, allowing drivers to link their GrabPay mobile wallet directly to their personal bank account, or opt for a cash pick-up option.
“Our driver-partners represent the distribution network through which we will enable digital payments across Southeast Asia. TransferTo’s extensive global payments Network has allowed us to offer faster daily earnings to these invaluable partners. TransferTo seamlessly took care of the entire set-up and integration process, allowing us to focus on our market strategy and better serving our users.”
Jason Thompson, Head of GrabPay
Improving Drivers’ Lives
Previously, the payouts were being processed by dispatching salaries in batches (i.e. not in real-time), and Grab received concerns from drivers who had to wait up to several working days to collect their earnings, yet required the money as soon as possible to support their livelihoods. This payout method was a slow, laborious process which called for automation, especially since the number of drivers working for Grab continues to grow exponentially.
For Grab, TransferTo’s Mass Payouts solution was essential and far more cost effective. Through one single commercial relationship, this partnership saved Grab time and resources from building their own system or integrating with multiple partners.
TransferTo is able to process unlimited numbers of transactions for Grab, meaning all their drivers, regardless of location, can easily cash out all the earnings on the same day, and in real-time. By relying on our extensive global payments Network, and the skills of our experienced and agile tech team, Grab is able to focus their efforts on their go-to-market strategy, while we take care of the entire integration and payout process.
To learn more about how our Mass Payouts solution can grow your customer base, click here.