SINGAPORE (Oct 25): Singapore-based Grab has partnered payments processor Mastercard Inc to issue prepaid cards tailored to Southeast Asian consumers, extending the use of Grab’s digital wallet and helping its unbanked users transact online.

The companies hope to leverage Grab’s 110 million users based on download numbers, and Mastercard’s network of 3 million merchant outlets.

“This partnership with Grab significantly advances our reach in Southeast Asia and aligns with our goal of expanding digital payments across all consumers and merchants,” Mastercard said in the companies’ joint statement on Thursday.

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