Grab inks deal with Maybank to boost mobile wallet

Grab has inked a strategic partnership with Maybank to drive the acceptance and usage of Grab's new cashless payment method, the GrabPay mobile wallet. The move follows Grab's vision of becoming the everyday app for Malaysian consumers, integrating mobility, food delivery, cashless payments, financial services and logistics.

With the new partnership, Grab consumers will be able to use GrabPay mobile wallet at GrabPay merchants, as well as key merchants of Maybank. Similarly, Maybank customers will also have the option of paying via Maybank QRPay at GrabPay merchants following the deal.

In addition, consumers will be able to top-up their mobile wallet directly with the use of Maybank2U, the bank's internet banking portal, bringing added convenience to consumers. Maybank customers who use GrabPay as their payment method for rides and other services on Grab will also be able to enjoy exclusive benefits and rewards. Moving forward, both companies will be collaborating to bring more merchants into the mobile payment network.

According to Ooi Huey Tyng, managing director, GrabPay Singapore, Malaysia and Philippines, Maybank not only shares the brand's vision of a cashless payament future, but also recognises Grab as "ideally poised" to make this a reality.

“This partnership underlines the strength of Grab’s collaborative approach. The whole industry needs to come together to make the cashless economy a reality in Malaysia. With GrabPay mobile wallet as the leading payment method on our Grab app, it will build an interconnected ecosystem of our services, thus making Grab an everyday app to complement consumers’ everyday lifestyle,” Ooi said.

Group president and CEO of Maybank, Datuk Abdul Farid Alias added that the collaboration with Grab is part of Maybank Group’s ongoing efforts to provide customers with even more digital conveniences that would not only enrich their online experience but also enhance their lifestyles.

“We are continuously looking to introduce products and services which offer better value by leveraging on cutting-edge technology and a deep understanding of our customers’ needs. With this partnership, our customers will not only enjoy a seamless experience when transacting through GrabPay but also a host of exclusive benefits that would reward them with substantial savings in the long run. This is very much in line with our strategic objective of becoming the digital bank of choice in the region,” Datuk Abdul Farid Alias explained.

Earlier this month, Grab has also launched its food delivery app, GrabFood in Malaysia and Singapore. The service is currently only available in four areas in Malaysia as it is still in its beta testing stage. In a statement to A+M, country head of Grab Malaysia Sean Goh said that the app will be fully launched at the end of May. The brand will also be partnering with restaurants that previously worked with Uber Eats, and with other new restaurants.

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