Grab partners with Maybank to bring GrabPay to Malaysia
Grab, the Southeast Asian tech company famous for its ride-hailing service, has announced it will bring its digital payment business to Malaysia.
The firm has partnered with Maybank to bring its digital wallet, GrabPay, to the country. Maybank is currently the largest bank in Malaysia. This marks Grab’s first venture outside of Singapore with its GrabPay service.
Customers will be able to use the GrabPay digital wallet at GrabPay partner merchants, and later on it will be possible to use this within Maybank’s network of merchants as well. Users will be able to top up the wallet through Maybank’s online banking service.
Grab began operating cashless payment services in its home country of Singapore last November and managed to sign up 1000 merchants by the end of 2017, surpassing its initial goal. It received its license to operate GrabPay in Malaysia in December.
The company aims to roll out GrabPay across all eight of its markets by the end of the year. These include: Indonesia, the Philippines, Vietnam, Thailand, Myanmar and Cambodia.