Grab launches a new ‘Instant Cash Out’ feature for driver-partners
Grab, Southeast Asia’s leading online-to-offline (O2O) mobile platform has launched a new ‘Instant Cash Out’ feature which could increase the drivers’ social and financial security for driver-partners, with the aim of supporting wider public use and making technological upgrades.
This feature will enable local Grab drivers to withdraw their earnings which will be credited to their bank accounts, without the need to wait for the standard processing time of one working day.
m Photo Soruce – https://www.grab.com/mm/
Driver-partners will receive credits from Grab Driver Wallet into their respective CB bank accounts, thus allowing them to make withdrawals from the nearest ATMs conveniently. ‘We are constantly trying to make Grab the best partnership option for our Myanmar driver-partners. We’re always listening to their feedback and suggestions, and making efforts to provide for their demands. This new Instant Cash Out feature only requires a few simple steps to make withdrawals from their smartphone applications at any time. Drivers will be satisfied to have access to their daily wages and this will result in a better quality of life for them. This feature is an example of our innovative technological advancement and it will replace the old system which requires one working day to withdraw,’ said Cindy Toh, Country Head of Grab Myanmar.
Photo Source – https://www.grab.com/mm/
The need to access their daily wage was the most popular demand in the surveys and monthly meetings hosted by Grab. The Instant Cash Out feature is very convenient for paying outstanding fees, household utilities, etc. It also becomes easier to handle emergencies. Drivers can feel secure, knowing that they can pay for gas and repairs from their own pockets.
‘My driver-partner friends don’t have to worry about getting their wages from GrabPay anymore. We can even make online transactions through mobile banking from the credits we receive into our bank accounts,’ said Ko Zaw Htoo, who has partnered with Grab for over two years.
Photo Soruce – https://www.grab.com/mm/
The new feature is made possible by partnering with CB Bank and TransferTo. Commencing from the date of the announcement, the Instant Cash Out feature is automatically available for Grab driver-partners who have linked their CB bank accounts to the application.
Grab transfers credits into the driver-partners Grab Driver Wallet for transactions such as listed below:
- For payments made via GrabPay which includes credit and debit cards
- For payments made via GrabPay Corporate by Grab for Business
- For Grab reimbursements of promo code discounts used by passengers
- For weekly incentives and bonuses for driver-partners rewarded by Grab
The Instant Cash Out feature is available for driver-partners who use the latest version of the Grab Driver application, with an active Grab Driver account, and sufficient funds in the Grab Driver Wallet. A driver-partner can make one cash out every 24 hours at any time, including weekends and public holidays, from a minimum amount of MMK 500 to a maximum amount of MMK 50,000.
Steps on how to use Instant Cash Out are as listed below:
- Click on ‘Cash Wallet’ in the Grab Driver application
Photo Soruce – https://www.grab.com/mm/
2. Select ‘Transfer to Account’
Photo Soruce – https://www.grab.com/mm
3. Type in the maximum amount of MMK 50,000 and click ‘Next’
Photo Soruce – https://www.grab.com/mm/
4. Confirm the transfer amount and click ‘Transfer Now’
Photo Soruce –https://www.grab.com/mm/
Led by Grab’s regional engineering team, different stages of trial and error experiments were conducted on ten driver-partners to several thousand. Currently, Grab operations in Myanmar including Yangon, Mandalay and Bagan, and international services are available in Singapore, Indonesia, the Philippines, Malaysia, Thailand, Vietnam and Cambodia.
To find out more about Grab, please visit the links below.
https://www.grab.com
https://www.facebook.com/GrabMM
