ALSO READRide-hailing firm Grab buys India-based payments startup Grab acquires Indian payments startup iKaaz Kerala to launch e-network of ambulances modelling Uber Uber plans to sell Southeast Asia business to Grab - CNBC Singapore competition agency to look closer at Uber tie-up with ComfortDelGro
Southeast Asian ride hailing app Grab is expanding into financial services in partnership with a Japanese credit card company, hoping to offer credit to millions of people without bank accounts.
Grab, founded by Malaysian businessman Anthony Tan, said today it will use its "huge cache" of customer data from the app to provide ways to measure creditworthiness of people outside the formal banking system.
The ride-hailing app has over a billion transactions a year including food deliveries and other services.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)