Caroupay to launch digital wallet in S’pore next month

Caroupay, the digital wallet within the Carousell app, is due to launch next month in Singapore. This will allow buyers and sellers to complete transactions all within the Carousell app itself, evicting the need to rely on third-party payment platforms or completing the transaction in person.

Carousell is collaborating with payment partners in the Southeast Asian region to implement the wallet and wants to push the payment method across all of its seven markets – Singapore, Malaysia, Indonesia, Taiwan, Hong Kong, Australia and the United States. The wallet, for now, will only function within the app.

Earlier this year, Carousell had raised US$85 million in series C funding co-led by Rakuten Ventures and EDBI, with DBS as a new investor.

Source: Southeast Asia Global