Grab, the on-demand transportation and mobile payments platform in Southeast Asia, and Samsung Electronics announced that they have signed a multi-year memorandum of understanding to drive digital inclusion in the region, according to a press release.

Grab and Samsung will work together on a wide range of initiatives to bring the benefits of technology, such as enhanced customer experiences and improved income opportunities, to millions of consumers and Grab driver-partners across Southeast Asia, according to the press release.

As part of the wide-ranging strategic collaboration, Grab and Samsung will develop customized solutions for the ride-hailing industry, including micro-financing schemes for Grab's over 2.3 million driver-partners, improved customer booking and in-car experiences, and new mobility solutions.

The companies will also work together to expand into Southeast Asia's fragmented mobile payments ecosystem and provide a mobile payments products that will serve the needs of consumers in Southeast Asia, according to the press release.