SINGAPORE (Reuters) – Southeast Asian ride-hailing and payments firm Grab said it had put a partnership with Wirecard on hold till further notice, days after Wirecard disclosed a $2.1 billion financial hole that threatens the German firm’s future.
“We have not begun business integration work on the Wirecard partnership and we are pausing the partnership till further notice,” a spokeswoman from Grab told Reuters on Wednesday in response to a query about the status of the partnership.
The two companies had entered a payments agreement earlier this year under which Wirecard was to process transactions made via the GrabPay e-wallet.
(Reporting by Anshuman Daga and Aradhana Aravindan; Editing by Muralikumar Anantharaman)
