I am honoured to receive the Best Fraud Prevention Innovation (Community Votes) Award at the 2016 Florin Awards on behalf of Grab. For those of you who voted for Grab, we thank you for your support that made this award possible.
User Trust and Safety is paramount to Grab – we uphold the industry’s highest security standards for all cashless transactions that occur on our GrabPay platform. A large part of what underlies this protection is the risk and fraud detection system that we put in place at the launch of GrabPay early this year. It continues to evolve further today, using sophisticated machine learning algorithms that progressively builds on the knowledge we have of our drivers, passengers and their travel patterns to enable the largest mobile transaction volume on any Southeast Asian consumer platform in history.
To top that, Grab is now one of the most frequently used mobile platforms in the region with up to 1.5 million bookings daily. The app has been downloaded more than 23 million times!
With the strong growth story in mind and the drive to enable a seamless and ubiquitous transaction experience across the region, we at Grab have made it our mandate to provide full protection for all GrabPay transactions to our drivers and passengers – we cover any unauthorised fraudulent transactions on GrabPay. This is a testament and commitment from Grab that we place our users’ trust and security front and centre, and will do what it takes to ensure a seamless and safe transaction experience.
We have big aspirations for GrabPay and will continue to provide our consumers greater accessibility, ubiquity and convenience in making safe and secure cashless payments in Southeast Asia. We’d like to thank all GrabPay users who have been on this journey with us, and for the exciting road ahead.