Ride-hailing major Grab launches GrabFood in Vietnam

Singapore-headquartered ride-hailing major Grab has introduced food deliveries through its GrabFood platform in Vietnam after successful roll-outs in Indonesia and Thailand.

GrabFood services will initially be piloted in five districts of Ho Chi Minh City – Districts No 1, 3, 7, Tan Binh and Binh Thanh – where most restaurants are located. Consumers in Vietnam will be able to order food from restaurants near them through GrabFood without any minimum order requirements.

“GrabFood is the next major step in our move to serve the daily essential needs of consumers… With the acquisition of UberEats operations and the expansion of GrabFood across the region, we are working with local merchant and driver partners to deliver the best of Vietnam’s kitchens to the doorsteps of millions,” said Jerry Lim, Country Head of Grab Vietnam.

GrabFood was first launched in Jakarta in 2016 and subsequently tested in Bangkok last year.

Grab is also likely to launch its electronic wallet GrabPay in Vietnam by September this year, a company representative said in an interaction. The company intends to roll out its payments services across all major Southeast Asian countries by the end of the year. Grab had earlier announced a partnership with Japanese credit card company Credit Saison to provide lending services, micro-financing products and services tailored for the region. Grab also announced a partnership with property and casualty insurance company Chubb to offer insurance solutions to its drivers.

In the early stages, the joint venture with Credit Saison will focus on providing products to meet the needs of Grab drivers, agents and merchants, such as working capital loans, financing for smartphones and durable goods, as well as consumer goods financing.

In a statement, Grab said that more than 6 million microenterprises across the region have joined its financial services platform already. It aims to reach 100 million microenterprises by 2020.

By Quynh Nguyen

Souce: dealstreetasia