Singapore-based ride-hailing company Grab announced on Tuesday it has teamed ups with Malayan Banking Bhd (Maybank) to launch a new cashless payment method known as the GrabPay mobile wallet. This news comes just a couple months after Grab announced the launch of its new financial services and acquired Uber’s Southeast Asia operations.
According to Grab, the partnership and support from Maybank will allow customers to be able to use their mobile wallet at Maybank’s key merchants. The GrabPay mobile wallet will not only be able to be used at GrabPay merchants but also at more merchants. Customers may eventually opt to pay through Maybank QRPay at GrabPay merchants.GrabPay Singapore, Malaysia, and Philippines managing director, Ooi Huey Tyng, stated:
“The whole industry needs to come together to make cashless economy a reality in Malaysia. We are honored to partner with Maybank, which not only shares our vision of a cashless payments future but also recognizes Grab as ideally poised to help make this a reality.”
Maybank Group President and CEO Datuk Abdul Farid Alias also commented:
“We are continuously looking to introduce products and services, which offer better value by leveraging on cutting-edge technology and a dee understood of our customers’ needs.”
Alias then added:
“With this partnership our customers will not only enjoy a seamless experience when transacting through GrabPay, but also a hot 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.”