June 24, 2020 / 6:17 AM / 2 months ago

Singapore's Grab says puts partnership with Wirecard on hold

SINGAPORE, June 24 (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)

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