Consumers can now top-up and spend money or ‘GrabPay credits’ from the Grab app and use their app to pay for Grab’s services such as GrabFood and rides, but also at merchants or partners with the GrabPay QR code. In addition, consumers can transfer money directly to each other via the app with just a few taps.
Grab app offers everyday services in areas such as mobility, food and other services to more than 100 million consumers across Southeast Asia. GrabPay is now accepted in more than 500 merchants spanning eight major cities nationwide.
According to 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.
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