By Ram Christian Agustin
Grab’s mobile wallet GrabPay has inked a partnership with SM Cinemas which now enables consumers to pay for SM Cinema tickets using Grab credits and scanning QR codes.
Initially available for Metro Manila and Cebu this April, this feature is set to go live nationwide by the end of 2019 alongside other innovations from Grab which include users being able to pay for GrabFood orders using GrabPay by quarter two this year, bills payment options by the third quarter, and the ability to shop with racked up points by year’s end.
As SM Cinemas’ first QR payment partner, GrabPay is pushing advances for more cashless transactions. Moviegoers can also ditch long lines in malls when purchasing their tickets by simply visiting the SM Cinema website and selecting GrabPay as a payment option.
“The Philippines is ripening for a digital payments revolution. In the Philippines, we are seeing consistent increase in our GrabPay user base, with a 130% growth from the first quarter of 2018 to present. As the leading super app in Southeast Asia, we are excited to take our innovative mobile wallet GrabPay outside of the Grab app and bring it closer to the everyday lives of Filipinos, starting with SM Cinema,” said Ooi Huey Tyng, GrabPay managing director for Singapore, Malaysia, and the Philippines.
This recent development of cashless movie ticket purchases stems from the strategic partnership of GrabPay with SM Investments Corporation (SMIC) during the last quarter of 2018 to jointly develop products and services that will promote cashless transactions locally but which involved the integration of GrabPay with the different companies of the SM Group.
According to Grab Philippines president Brian Cu, their users use GrabPay for transportation, load top-ups, and delivery services. With the integration of GrabPay to GrabFood and other services, as well as their partnership with SM, it is expected that their user growth will continue to rise.
Currently for the first quarter this year, GrabPay maintains a high adoption rate averaging at a 30% quarter-on-quarter growth. GrabPay said it remains open to forging more strategic partnerships with different merchants, retailers, and micro, small, and medium enterprises (MSMEs) this year to further expand its QR service, and promote the use of digital payments in the Philippines.