A brand-new strategic partnership is launching in Singapore, combining the region’s most popular mobile payment and ridesharing service with easily its most popular and exciting bike sharing program – leveraging the strengths of both of these companies and transforming the urban transportation community and mobile payment world at the exact same time.
Grab (and their subsidiary electronic payment service Grab Pay) has been one of Singapore’s most exciting startup success stories, offering the same kind of ridesharing capabilities throughout Southeast Asia – and beyond – that Uber has been offering around the world and gobbling up a considerable amount of market share along the way.
Grab Pay is the region’s most popular electronic and mobile payment service, and has helped the Grab parent company to diversify and expand its reach into new markets – establishing itself in Singapore, Taiwan, Korea, Thailand, Malaysia, as well as in Indonesia, the Philippines, Vietnam, Cambodia, as well as China and Japan.
OBike, the other hand, has a bit shorter of a track record when it comes to success – but it’s bike sharing program (incredibly popular in urban areas throughout Southeast Asia, and for good reason) has exploded in just the last year or so. This is why Grab was so excited to partner with this operation in the first place.
Also a Singapore-based startup, oBike is a platform that doesn’t require bicycles that are shared throughout the service to be returned to a station. This has helped it to grab a lot more traction in Southeast Asia than competitors, taking advantage of advanced Bluetooth technology that allows these shared bicycles to be left pretty much anywhere and everywhere when a rider is done with them – and allowing new riders to take advantage of these bicycles by locating, unlocking, and reserving these bicycles via the oBike mobile application.
The partnership between Grab and oBike is going to allow both companies to grow a lot faster than they would have been able to separately. Grab has predominantly focused on ridesharing services with vehicles and the mobile payment service that we highlighted above, whereas oBike has been focusing almost exclusively on their bicycles sharing service while trying to implement a mobile payment service in-house that hasn’t quite caught on.
By partnering with one another, Grab immediately games a rock solid foothold in a separate industry that works in a vertical style funnel. Bicycle sharing uses the same kind of assets that traditional ridesharing services will, helping to make the integration of oBike a lot smoother than it would have been otherwise.
On top of that, oBike gets immediate exposure, incredible marketing leverage, in the ability to take advantage of the Grab Payment platform as well. This allows for a much simpler and more streamlined process for bicycle sharers to take advantage of, improving the operations of this business right out of the gate.
Both companies are committed to long-term success with one another and it’s going to be very exciting to see how these incredibly successful Singapore-based companies tackle the future together.
About the Author
Morris Edwards is a content writer at CompanyRegistrationinSingapore.com.sg, he writes different topics like Ways to Save Money for Your Business, 10 Great Low-Cost Small Business Ideas, How to Get Started With Online Business: 5 Great Ideas and all topics related to Doing Business in Singapore. If you want to learn more about Company Registration in Singapore visit our website.
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