GRAB expects to increase revenue growth for this year by at least double the rate seen last year under a plan to partner with companies and state entities for business expansion.
As part of these plans the company will begin providing e-wallet services in the first quarter of this year.
Tarin Thaniyavarn, country head of Grab Thailand, said the ride-hailing platform would join with its ecosystem business partners to drive its business growth and increase productivity. The partners include those the company deems to be strategic partners in the online sphere and in private partnerships and in e-commerce, as well as entrepreneurs, its customers, government offices and people in organisations
The firm will provide the e-wallet payment services as a means of enabling e-payment services and financial services such as micro-finance to support the needs of its drivers.
The ride-hailing platform now covers 16 provinces, with 18 cities, in Thailand. The firm will work with business partners on a promotional campaign for Chinese New Year under the concept of good luck - or heng heng heng in Thai.
Tarin said the company’s existing services, such as Grab Rent, Grab Wan, Grab Food, Grab Express and Grab Assist, have the potential for high growth, as they provided convenience for customers with easy access to the services. However, the on-demand ride-hailing platform service is encountering high competition in the market. It is competing with its rivals by offering new services and a new technology platform, along with safety services, Tarin said.
“Thailand is a country with the potential for high growth for the provision of ride-hailing services to support the market both in metropolitan and upcountry areas,” Tarin said. “It will utilise Big Data to support new services and create satisfaction to support customers and business partners.”
He said that by the end of this year the company would have gained revenue growth measured in three digits, from that achieved last year. The firm last year offered 100,000 trips per day, delivered 3 million meals, while Grab Express doubled its growth and Grab Food grew by 40 times.