GrabPay hits Malaysia market

Grab has introduced the GrabPay in Malaysia. GrabPay is a safe, convenient and flexible mobile wallet to pay both for services on the Grab app and in stores and restaurants. This launch is teamed with partnerships with local champions like Maybank, KLIA Ekspres and merchants such as Tealive, ensure GrabPay is not only accepted nationwide in eight cities, but can also be used for a variety of services.

Managing director of GrabPay Malaysia, Singapore and the Philippines, Ooi Huey Tyng, shared that these partnerships drive adoption of a more cashless culture. A key partnership announced recently with Maybank, for example, will allow consumers in the future to use GrabPay Credits not only at GrabPay merchants but also at Maybank’s nationwide network of QR-enabled merchants.

Through this partnership, consumers will soon also have the added convenience of directly topping-up cash to their mobile wallet via Maybank2U, Maybank’s internet banking portal. Maybank customers who use GrabPay as a payment method for rides and other services on Grab will enjoy exclusive benefits and rewards.

Another partner added to the Grab ecosystem is the KLIA Ekspres. As the first mobile wallet KLIA Ekspres is partnering with, effective mid-july, commuters at KLIA, KLIA2 and KL Sentral can use GrabPay Credits to pay for their rides and enjoy an exclusive limited time offer promotion.

The new GrabPay – which previously only accepted debit or credit cards – comes enhanced with a mobile wallet. Consumers can now top-up and spend money or ‘GrabPay credits’ from the Grab app. Consumers can use their Grab app to pay for Grab’s services such as GrabFood and rides, but also at merchants or partners with the GrabPay QR code. Moreover, consumers can also transfer money directly to each other conveniently via the app with just a few simple taps.

According to statistics by Bank Negara, more than 80% of transactions in Malaysia still happen in cash. Cash handling and services also cost more than a billion a year to the banking industry.

"By working with partners who share our vision, we put ourselves us at the center of Malaysians’ day-to-day lives. When users are accustomed to paying for daily essential services, such as transport, food delivery and payment, we can help to expedite Malaysia’s transformation towards a more cash-like economy,” added Ooi.

Effectively today, GrabPay is now accepted in more than 500 famous food and beverage merchants spanning eight major cities nationwide, namely Klang Valley, Penang, Johor Bahru, Ipoh, Melaka, Kota Kinabalu, Kuching and Kuantan.

Targeted to double in the coming months, these restaurants range from famous chains such as Tealive and TeoChew Chendul which have outlets across the country to local city favourites such as Devi’s Corner, KGB Burgers and TedBoy Bakery (Klang Valley), China House (Penang), Burps & Giggles (Ipoh), Kopi Ping (Kota Kinabalu)  Big Bowl Ice (Melaka) and Coffee Gallery (Kuantan).