FairPrice, Grab to launch new subscription service

This article is more than 12 months old

FairPrice has signed an agreement with ride-hailing operator Grab to launch a new subscription service.

Consumers who sign up for the new service will enjoy exclusive savings, rebates and access to grocery and transport services, FairPrice and Grab said in a joint statement yesterday.

The partnership is "designed to complement consumers' online-to-offline lifestyle, while offering better value, convenience and access (to) essential goods and services in Singapore", they added.

FairPrice chief executive Seah Kian Peng said its tie-up with Grab is part of ongoing efforts to cater to the evolving needs of the community.

Grab co-founder and group CEO Anthony Tan said the partnership is "mutually beneficial" and will allow Grab customers to benefit from additional discounts and perks from FairPrice.

"With both supermarket and transport services as part of this initiative, we are thrilled to provide greater cost savings and convenience for time-strapped Singaporeans," he added.

No other details are available about the new service, which is expected to be launched in the first quarter of this year.

Grab, which announced in October last year it had secured debt financing of up to US$700 million (S$925 million) from various global and regional banks, has launched several services.

The move is aimed at growing its business beyond taxi-hailing and private-hire car services.

Last August, Grab announced that it aimed to expand its GrabPay mobile wallet platform to 1,000 brick-and-mortar merchants by the end of last year.