Ride-hailing giant Grab recently launched a feature to allow users in Singapore to authorize use of their personal data in a bid to beef up security on its GrabPay wallet app.
The feature, which will be available to all users by the end of the month, will allow Grab to do away with manual form-filling as part of the mandatory know-your-customer process.
Photo credit: Tech in Asia
Singaporean GrabPay users will need to log into their SingPass account through the Grab app and consent to the retrieval of personal data for authentication with the MyInfo government service.
Users will receive a notification when Grab has verified and upgraded the account within three working days.
Grab said it would increase the annual transaction limit from around US$3,600 to US$21,900 for users who complete the process.
It also plans to allow verified users to make inter-wallet transfers and introduce Mastercard prepaid cards to pay for Grab services across Southeast Asia.
Currency converted from Singapore dollars to US dollars: US$1 = S$1.37.
Editing by Dante Gagelonia
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