‘Thrive with Grab’ strategy aims to empower individuals to grow their personal wealth and manage their finances

Grab introduced new consumer financial services. Source: shutterstock.com

Grab has announced the launch of financial products and services that will be launched under a ‘Thrive with Grab’ strategy.

Grab’s new products include the AutoInvest platform that enables consumers to invest small sums of money through the Grab app.

With AutoInvest feature, customers can invest at least $1, with the potential to earn returns of an estimated 1.8% per annum. That amount of money can be cashed out directly to their GrabPay wallet.

Besides, Grab’s PayLater product helps users to better manage their cash flow by letting them shop online now and pay in interest-free installments. Eligible users can choose to split their purchases into monthly installments.

The company also provides consumer loans from third-party licensed banks. The innovative end-to-end platform will see bank partners and Grab integrate their APIs to enable users to access and securely apply for the loans directly within the app.

We’ve reported that Grab?has announced?the expansion of GrabMart into 8 Southeast Asian countries.

SEE ALSO:

• Grab and its FinTech ecosystem
• Digitizing the unbanked: Audrey Ottevanger on Asian payment trends
• Top 4 things you need to know before starting a business in Asia