The GrabPay Card, an extension of the GrabPay Wallet e-wallet, facilitating the accumulation of GrabRewards points and serving as a standard Mastercard for payment at selected merchants using the available GrabWallet balance, will be discontinued, Grab announced on 1 April. This decision follows an assessment of the company's existing financial services business.
The ride-hailing company observed a greater adoption and usage of other Grab services, like PayLater by Grab and GrabPay Wallet, which align better with the needs of their users. As of 1 April 2024, Grab will no longer be accepting new applications for digital or physical GrabPay Cards.
Requests for replacement of existing physical GrabPay cards will be entertained until 30 April. Those who have yet to activate their physical cards can do so until 31 May, albeit their inability to utilise the GrabPay cards for transactions after this date.
Until 31 May, GrabRewards points can still be earned on eligible online and offline transactions, both locally and overseas, using the GrabPay Card. All GrabRewards points remain valid with a six-month expiry period from the earning date. There will be no impact on users' GrabPay Wallet balances.
In response to queries from Mothership, Grab assured its commitment to serving customers and partners through alternative financial offerings. Consumers in Singapore can consider applying and joining the waitlist for an account and debit card from GXS, a digital bank offered by Grab and Singtel.
Other e-wallet services, such as Revolut and YouTrip, provide similar alternatives, offering digital or physical cards for payment. Revolut users can fund their e-wallet through a debit or credit card or a linked bank account. Additionally, signing up for the free standard account grants users both a digital and physical card, allowing for ATM withdrawals and in-app foreign currency exchange. Similarly, YouTrip offers zero per cent fee exchange rates, and both cards are compatible with Apple Pay and Google Pay for mobile device payments.
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