Grab has plans to become more than just a ride-sharing service; envisioning a future where people use its platform to do just about everything. At the centre of this vision is the Grab app, which will slowly be seeing expanded uses over the coming months.
Parts of the expansion are already being seen here in Malaysia, with the new GrabFood being trialed in parts of the Klang Valley right now. The company was also granted a e-money license by Bank Negara last December. Allowing it to begin work on rolling out an e-wallet; due to be officially announced over the next few months.
Details on the GrabPay mobile wallet are a little light at the moment, but it looks to be a natural expansion of its current applications within the Grab app. It will pay for services offered by the company, and will earn users GrabRewards points. There also appear to be plans to expand it to cover more traditional cashless payments as well.
On the surface, this appears to be an aggressive expansion plan now that there is no longer any competition in the ride-sharing space. However, Grab Malaysia Country Head Sean Goh says that this is not the case. The future Grab ecosystem has always been part of the plan, and this is a natural evolution for the service.