With a strategic investment of $50 million, Thailand’s Kasikornbank has secured a partnership with Grab to launch their co-branded mobile wallet, GrabPay by KBank for users in Thailand.
Grab Financial Senior Managing Director, Reuben Lai says, “In 2018, Grab Financial has established itself as Southeast Asia’s leading fintech platform, both in terms of Monthly Active Users (MAU) and Total Payments Volume (TPV).
“This partnership makes Grab Financial the first mobile payments platform to launch e-money-licensed payments services across ASEAN-6 and underlines the strength of our partnership-based strategy.”
Patchara Samalapa, president, Kasikornbank says, “Kasikornbank has bold ambitions of becoming the digital bank of choice in the region. We look forward to developing innovative financial products together, which will put KBank in a position to tap into the rapidly growing digital economy across the region.”