GrabPay: Enabling smoother, safer payments in Southeast Asia

GrabPay is thedigital walletoffering of Grab, Southeast Asia’s leading superapp.

As the first fintech platform with access to e-money licenses in the major six economies in ASEAN, Grab Financial has built the largest merchant network, covering more than 600,000 merchants. Today, it has payments technologies that will allow more micro and small businesses to benefit from the Grab userbase: ‘Pay with GrabPay’ online check-out and Point-of-Sale (POS) device integration. The technologies help Grab Financial Group further differentiate itself in speed, affordability and versatility – all crucial needs for small entrepreneurs.

GrabPay is what powers all cashless payments for Grab services. Transcending borders and bridging online-to-offline channels through digital wallets, providing customers with access to everyday services through seamless transactions.

‘Pay with GrabPay’ online checkout allows online sellers to accept GrabPay as a mobile wallet on their website or platform. Customers can buy their goods online from the same familiar, convenient and secure GrabPay wallet they use on a daily basis for Grab rides and food orders.

The ‘Pay with GrabPay’ online checkout has launched with micro and small businesses on local ecommerce platforms such as Qoo10, and 11Street, two of the largest ecommerce platforms in Singapore and Malaysia respectively. ‘Pay with GrabPay’ agreements have also been signed with some of the region’s biggest merchant gateways, including Adyen.

With POS device integration, business owners with POS devices can tap into Grab’s ASEAN-wide user base, without having to change their hardware or sales and accounting systems. Merchants can simply add GrabPay as a payment method on their existing POS device.

GrabPay and its strategic partners are available in shopping destinations and booming ecommerce markets like Singapore, Malaysia, Indonesia, Thailand, Vietnam, and the Philippines.

GrabPay is the most popular mobile wallet in SEA’s rapidly growing fintech sector where we are unmatched in our reach, talent and depth of data.

We continue to give our users more reasons to go cashless daily. Beyond transportation, they can use GrabPay to pay for food orders on GrabFood, have a parcel sent on GrabExpress, send and receive GrabPay credits with friends and family. GrabPay can also be used for offline payments such as transacting in shops, restaurants and even small merchants, effectively allowing users to leave their cash and credit cards at home.

1. GrabPay as a button (online):

‘Pay with GrabPay’ online checkout allows online sellers to accept GrabPay as a mobile wallet on their website or platform. Customers can buy their goods online from the same familiar, convenient and secure GrabPay wallet they use on a daily basis for Grab rides and food orders.

2. QR Code Payment solutions (offline)

a) Static QR Code check-out allows consumers to purchase goods from retail stores by scanning the GrabPay QR Code, inputting the transaction amount, and swiping to pay.

b) Merchant Present Dynamic QR Code is a seamless payment solution that allows consumers to purchase goods from retail stores by scanning the GrabPay QR Code at the POS and swiping to pay, eliminating the need to enter the transaction amount.

c) Consumer Present Dynamic QR Codes a seamless payment solution that allows consumers to purchase goods from retail stores by displaying their GrabPay QR Codes for merchants to scan at the POS.

3. GrabPay beyond Grab rides

By expanding the use of GrabPay as a mobile wallet beyond transport, both consumers and merchants have a more seamless and secure way of transacting. Consumers can enjoy the benefits of a cashless society such as greater convenience and a more seamless retail experience, while traditional, cash-based businesses are able to increase productivity and save business costs by going cashless.

Starting off with the Static QR Code payment solution, we have expanded our payment solutions via POS device integration to offer the Dynamic QR Code Payment solution, which eliminates the need for customers to key in the transaction amount, reducing room for error and providing a seamless checkout experience.

Similarly for online checkouts, customers are now able to top up their GrabPay wallets directly on the webpage without having to go back to the Grab app. While the Grab app is like a hub to access our services, we have designed user journeys that are intuitive to user behaviors.

We have also launched our first ‘Pay Later’ product in Singapore, a post-paid and installment payment service for Grab services.

‘Pay Later’ offers a post-paid payment facility which allows customers to pay for Grab services at the end of the month, without additional costs. This helps consumers who face exceptional expenses, but are keen to avoid being hit with higher credit card or personal loan interest payments.

As you know, Grab’s mission is to drive Southeast Asia forward and we do this by:

1) Creating economic opportunities at scale

a) From drivers and merchants to agents. We serve millions of partners across the region by giving them income and multiple earning opportunities.

b) We also create more ways for our partners to earn, invest in their upskilling, and provide them with insurance and loan options that were previously unavailable to them.

2) By creating financial inclusion for the unserved

Over 300 million people in the region have no access to banking services. To make financial inclusion for everyone a reality, we’ll provide financing options through lending products, and protection services.

3) By enabling access to safer, high quality everyday services

We’ll never stop innovating to address the daily challenges that people face. Whether it’s on the aspects of mobility, food, deliveries, medical services, or more.

This blog post is co-authored with Jay Jia, Regional Business Development & Strategy, Grab Financial Group.

Want to add GrabPay as a payment method for your business?Speak with the Adyen team today.