Obtaining a full digital banking license in Singapore, Grab faced challenges common to many online payment providers wanting to make the next leap into acquiring:
- Attaining a data rich and highly configurable merchant management system covering the entire transaction lifecycle
- Minimising operational costs and financial leakage while marginalising the complexity and resource intensiveness that is usually tied to large-scale payment architecture
- Up- and cross-selling value-adding products tied to the payment transaction easily
Alpha Fintech partnered with Grab to deliver an advanced PPaaS merchant acquiring solution. This was done by uniting solution providers across the entire payment life cycle within one interface. The results include simplified merchant onboarding, lower technological and operational costs, new tools to increase authorisation rates, and greater monetisation of assets through uncovered data.