KUALA LUMPUR: THE pandemic and movement control order (MCO) that impacted businesses has clearly emphasised the importance of the digital economy, creating a dramatic paradigm shift in our acceptance and usage of cashless payment methods such as e-wallets.
This is echoed by Mastercard’s studies, which reveal that Malaysia is leading the region with mobile and digital wallets adoption, with 75% of consumers in the Asia Pacific inclined to continue using cashless payments even after the pandemic is over.
In addition, a recent analysis by Bain indicates more businesses will be more receptive towards cashless payments.
Recognising this shift in consumer acceptance of cashless payments, Grab today announced the expansion of GrabPay’s merchant-partners to include household brands from all essential categories such as groceries, pharmacies, food, electronics and hardware across the nation.
The list of brands includes a variety of chain outlets such as MyNews, Tesco, Guardian, Watsons, KFC, McDonald’s, Mr DIY and Senheng.
“The expansion of GrabPay’s merchant base is part of Grab’s ongoing commitment to create awareness about the benefits of digital payments and nurturing 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 after the pandemic and MCO period.
“As the economy reopens, we want to ensure that Malaysians can transact cashlessly everywhere and GrabPay can now be the primary choice of payment for safer and better value for Malaysians,” said GrabPay Malaysia head Priyanka Madan.
She added, “Grab has always been a proponent of the digital economy and of digital payments. In fact, we were honoured that the GrabPay e-wallet was selected to support the government’s recent effort to drive and nurture the cashless habit, which saw almost 50% of our claimants remaining active GrabPay users post campaign.
“In addition, the pandemic has also mooted a two-pronged growth of our new user base as well as merchants; a clear indication that both parties are receptive to cashless payment methods. Therefore, we are confident that this behaviour will also carry on to their usage and acceptance even in-store.”
In addition to the convenience and seamlessness of using the GrabPay wallet, the homegrown tech company, together with their merchant-partners, have also made going cashless more affordable for Malaysians.
“The Grab ecosystem enables users to fully reap the benefit of using the GrabPay e-wallet for both their online and offline transactions. In fact, in the second half of 2019, our users were able to save up to RM5.5mil just by using GrabPay to pay for their everyday needs like transport, shopping and deliveries for their food and groceries. We will continue to offer more opportunities for our users to save, especially through our GrabPay price promotions,” said Madan.
GrabPay has also recently enhanced their app interface and safety measures, making it even more user-friendly and safer. Some of the enhancements include a sleeker app interface, a six-digit pin code to protect customer information in the app, as well as the option to pay in-store with their GrabRewards points.
Moving forward, GrabPay will also be introducing more safety features and enhancements to give users even more reason to go cashless. This includes helping users manage their spending, providing them with real-time information on the latest deals near them anywhere in Malaysia and enabling them to use their points to pay for their online shopping.
For more information, visit https://www.grab.com/my/pay/