Samsung-Grab deal to help 2.3 million drivers micro-finance

The new feature will allow them to buy a device and finance it through a loan.

Samsung Electronics and Grab signed a memorandum of understanding (MOU) for a digital collaboration for digital inclusion in Southeast Asia.

According to a press release, the collaboration will be rolled out in phases across Southeast Asian countries with Grab's operations.

The first phase will include a micro-financing progamme in Grab's Better 365 for over 2.3 million grab drivers.

This initiative was piloted in Myanmar in Q4 of 2017. Currently, drivers in Myanmar who sign up with Grab can purchase and own high-quality Samsung devices and get a micro-loan from CB Bank, one of Myanmar’s largest banks and Grab’s local banking partner, to finance the device.

Grab will also add more GrabKiosks and GrabBooths that have Samsung devices with the Grab app pre-installed. This will be rolled out in Singapore in Q1.

The third offering will add Samsung's tablets inside Singapore's Grab cars. The tablets will allow customers to view infotainment content during their ride.