Grab has announced it will deepen the company’s presence in Myanmar by investing US$100 million over the next three years. The money will allow Grab to strengthen its presence in Yangon and work with local governments to launch its ride-hailing services to other cities across the country.

The company also plans to unveil other products from the Grab suite such as GrabPay, moving more people in Myanmar into the digital economy and driving the adoption of mobile payment nationwide. According to the press statement, it works with local banks such as CB Bank and Wave Money to make banking and financial services available to all of its driver partners in Yangon.

Source: Mizzima Media

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