Ride-sharing platform Grab has officially rolled out its mobile wallet GrabPay yesterday, 26 June
The e-wallet, which is integrated into the Grab app, provides a seamless payment solution for users at over 500 partner merchants and retailers in eight cities nationwide.
The launch here marks GrabPay's second foray into Southeast Asia after the service was made available in Singapore last year.
Just from a swipe on the Grab app, users can top up and spend GrabPay credits securely. Payments to participating merchants can be made with GrabPay QR codes.
Through every transaction made on GrabPay, users earn GrabRewards which can be utilised to redeem exclusive offers from the GrabRewards catalogue.
Users can also transfer money directly to each other directly through GrabPay.
Citing statistics from Bank Negara, Grab said more than 80% of transactions in Malaysia still happen in cash. These transactions result in costs amounting to more than RM1 billion per year.
"What’s stopping many in Malaysia from adopting cashless (transactions) is the perceived lack of safety and convenience.
"With GrabPay, consumers in Malaysia, regardless of age, can participate in the cashless, digital economy without having to download additional apps,” said Ooi Huey Tyng, managing director of GrabPay Malaysia, Singapore, and the Philippines.
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