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GrabPay ropes in Ooi Huey Tyng from Visa as Managing Director for Singapore, Malaysia, Philippines

GrabPay ropes in Ooi Huey Tyng from Visa as Managing Director for Singapore, Malaysia, Philippines

In 2017, GrabPay on-boarded a total of 1,000 merchants in Singapore, and this year it targets more than 20K local, cash-based businesses

Ooi Huey Tyng

Grab, one of the largest on-demand transportation and mobile payments platforms in Southeast Asia, today announced the appointment of Ooi Huey Tyng as Managing Director for GrabPay Singapore, Malaysia, and the Philippines.

Based in Singapore, Tyng brings on board more than 25 years of experience in senior positions at global banks and leading payments providers.

Tyng joins Grab from Visa, where she was the Country Manager for Singapore and Brunei. During her time, she drove the company’s innovation and digital roadmap as well as the strategic engagement of regional banks headquartered in Singapore.

Prior to Visa, Tyng held leadership roles at DBS, UOB, and Citi among others, where she was responsible for managing retail cards businesses, co-branding and rewards partnerships, as well as engagement with merchants. Tyng also served as a representative to the MAS Payments Council and the Committee on the Future Economy (CFE).

“Huey Tyng brings deep leadership expertise from some of the region’s premier banks and payments providers. Her experience with our current and potential payments partners will be invaluable as GrabPay moves into its next phase of growth. Millions of people in Singapore, Malaysia and the Philippines are still heavily dependent on cash. Huey Tyng’s skills in forging business partnerships across each country will enable us to bring more merchants and consumers into the cashless future faster,” said Jason Thompson, Managing Director, GrabPay Southeast Asia.

Also Read: In its fight to secure e-money licensing, Grab halts GrabPay credit top-up feature

Commenting on her new role, Tyng said: “It’s an exciting moment to join Grab. There are unique opportunities and challenges in the payment space for each country in Southeast Asia. For instance, even in highly-developed Singapore, more than 20,000 merchants remain primarily cash-based. With GrabPay, we can complement the work of our partners and offer millions of consumers in Singapore, Malaysia, and the Philippines the opportunity to go cashless.”

GrabPay has a notable presence in Singapore, where it claims to have on-boarded a total of 1,000 merchants in 2017 alone. This year, it will continue to focus on the city-state’s more than 20,000 local, cash-based merchants, it said in a statement.

Grab, which claims to be facilitating more than 3.5 million transactions daily, made a number of announcements in 2017 to support the growth of the GrabPay platform. They include the appointments of Jason Thompson as MD for Southeast Asia, Vikas Agrawal as CTO, and Ongki Kurniawan as MD for Indonesia. It also acquired Kudo and partnered with PayTren late last year.

Last December, Grab also moved beyond transport in the Philippines to launch its peer-to-peer (P2P) fund transfer feature.

In Malaysia, GrabPay has received the e-money licence by Bank Negara Malaysia, Malaysia’s central monetary authority. As a result, consumers in Malaysia will be able to pay with Grab in restaurants, shops and online, starting in the first half of 2018.

In October, Grab secured up to US$700 million in debt financing from unnamed global and regional banks. This came in less than 10 months after it announced a US$2 billion round led by Chinese ride-hailing company Didi Chuxing (DiDi) and Japanese telecom conglomerate SoftBank Group.

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