Grab inks Maybank deal to drive Malaysia payments - Mobile World Live

Grab inks Maybank deal to drive Malaysia payments

21 MAY 2018

Taxi booking app company Grab signed a deal with Maybank to widen acceptance for the forthcoming Malaysia launch of the GrabPay mobile wallet, a move it hailed as helping make the vision of a cashless future a reality.

Grab secured a banking licence in Malaysia in December 2017 and today (21 May) said it is preparing to launch a beta test of its wallet service in “the coming weeks”.

As a result of the deal with finance giant Maybank, at full commercial launch users will be able to pay for goods at retailers through either a direct agreement with Grab or members of Maybank’s wide payments network.

In addition, users of Maybank’s QRPay app will be able to use Grab-affiliated merchants.

Grab has already signed a number of agreements to accelerate uptake of its mobile payments service, which is at various stages of development across its eight markets. The only nation where it operates a full mobile wallet service is Singapore.

Ooi Huey Tyng, GrabPay MD for Singapore, Malaysia and the Philipines hailed the partnership, noting: “The whole industry needs to come together to make the cashless economy a reality in Malaysia.”

The company is also in the process of attempting to acquire the Southeast Asia arm of rival Uber and launched a number of services outside its core taxi booking business across its markets, including food delivery.

Author

Chris Donkin

Chris joined the Mobile World Live team in November 2016 having previously worked at a number of UK media outlets including Trinity Mirror, The Press Association and UK telecoms publication Mobile News. After spending 10 years in journalism, he moved...

Read more

Related

Tags