It is undeniable that the global COVID-19 pandemic and various movement control implementations have deeply impacted our lifestyles and livelihoods. On the flip side, it has accelerated the adoption of digital platforms and increased the importance of the digital economy. We have witnessed a dramatic paradigm shift with businesses adopting digital payments and services; likewise, consumers’ acceptance and usage of cashless payment platforms such as e-wallets.
This echoes studies done by Mastercard recently—indicating that not only is Malaysia leading the region with mobile and digital wallets adoption, but 75 per cent of consumers in the Asia Pacific region are inclined to continue using cashless payment even after the pandemic is over.
Additionally, a recent analysis by Bain revealed more businesses will be more receptive towards cashless payments.
Recognising this shift in consumer acceptance of cashless payments, Grab announced the expansion of GrabPay’s merchant-partners to include household brands from all essential categories such as groceries, pharmacies, food, electronics, and hardware. The list of brands includes popular chained outlets like MyNews, Tesco, Guardian, Watsons, KFC, McDonald’s, Mr DIY, and Senheng.
“The expansion of GrabPay’s merchant base is part of Grab’s on-going commitment to create awareness about the benefits of digital payments and nurturing the cashless adoption in Malaysia. The expansion of GrabPay’s partner base is also timely with the government’s recent PENJANA announcement to encourage Malaysians to spend as a means to help revive the economy post the impact of the pandemic and movement control period. As the economy re-opens, we want to ensure that Malaysians can transact cashless everywhere, and GrabPay can now be Malaysians primary choice of payment for safer and better value,” said Priyanka Madan, head of GrabPay Malaysia.
Aside from enjoying the convenience and seamlessness of using the GrabPay wallet, Grab has also made going cashless more affordable for Malaysians thanks to price promotions and through its GrabRewards system.
Grab said, in the second half of 2019, its users were able to save up to MYR5.5 million by using GrabPay to pay for their daily needs including transport, shopping, and delivers for food and groceries.
GrabPay was recently updated with an enhanced app interface and safety measures, making it even more user-friendly and safer. The app has introduced a six-digit pin code to protect user information in the app as well as the option to pay in-store with GrabRewards points.
Grab plans to introduce new features to help users manage their spending, provide them with real-time information of the latest deals near them, and enabling the use of points to pay for online shopping.
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