MANILA - Grab Philippines said it would make its QR code more interoperable this year to support the central bank's push for a cash-lite economy.

Its digital payment service GrabPay is also "very much present" in the cryptocurrency space by allowing users to top up using their GrabPay wallets, Grab Financial Group head Martha Borja told reporters in a briefing.

"We’re very much present in that category. We do have quite a bit of young population of users as well and we know that these are the things that are very important to them," Borja said.

Borja clarified that the service is not focused on trading crypto but more on the acceptance of virtual currencies.

GrabPay also ventured into e-gaming credits, she said.

This year, Grab said its own QR code could be accepted in other QR code ecosystems outside its own as it participates in the Bangko Sentral ng Pilipinas QR PH program which standardizes the payments system in the country.

"When you see a QR merchant, GrapPay will pretty much be accepted there. Now that allows us to build beyond our ecosystem, beyond ride-hailing, beyond delivery," Borja said.

"That’s going to happen this year," she added.

• New QR technology empowers 'unbanked' sari-sari stores, tricycle drivers: BSP

Borja said Grab's 3 key businesses, namely delivery, mobility transport and financial services, have grown threefold during the COVID-19 pandemic.

Filipinos relied heavily on food deliveries and digital payments when mobility restrictions were imposed during the height of the COVID-19 pandemic.

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