The purchase is aimed at beefing up payment services while expanding its reach across Southeast Asia’s largest country. The Singapore-based ride-hailing firm also announced on Monday it’s hiring former Euronet Worldwide Inc executive Jason Thompson to head GrabPay. Grab plans to accelerate the expansion of that network while using Kudo’s reach to bring more riders and drivers onto its own platform, it said in a statement. Grab, which introduced GrabPay last year, is racing against Indonesian rival Go-Jek to set up digital wallets for riders. Indonesia is Grab’s largest market, where the company saw its car- and motorcycle-hailing businesses grow more than 600% in 2016.

Source: Bangkok Post April 03, 2017 05:26 UTC