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Check any phone in Southeast Asia, and you're likely to find the Grab app inside. The "lifestyle super-app" and its proprietary digital wallet service GrabPay Wallet have become indispensable to both consumers and merchants, thanks to its seamless payment experience and broad availability in the region.
GrabPay Wallet is also leading the charge towards cashless payments in Asia: a trend driven by a large "unbanked" population and high smartphone adoption in the eight countries where Grab operates. Merchants now have access to an untapped market of millions who can now buy their products with GrabPay Wallet without ever using cash.
Here we take an in-depth look at GrabPay Wallet's features and benefits, and demonstrate why merchants looking to grow in Southeast Asia should make adopting GrabPay Wallet a top priority.
What is GrabPay Wallet?
Starting as a ride-hailing app in 2013, the Grab platform has since expanded into a comprehensive lifestyle superapp. Grab now operates in eight Southeast Asia countries (Cambodia, Indonesia, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam) covering almost 42 million monthly transacting users (MTUs) as of Q3 2024.
One of its most popular features is its proprietary digital wallet service, GrabPay Wallet, which allows users to shop, top up their phone credits, and order package deliveries quickly and securely, without ever using cash.
As Asia's payment preferences decisively shift away from cash and towards cashless methods, GrabPay Wallet meets a growing desire for fast, familiar and secure digital payments: its ease of use and widespread adoption have helped GrabPay Wallet become the default cashless payment method supporting Southeast Asia's increasingly upward lifestyle.
How GrabPay Wallet works
GrabPay Wallet is easy to use for a wide variety of purposes. Read these tips to learn how to start using GrabPay Wallet for your business.
Topping up/funding GrabPay Wallets
Users can top up their GrabPay Wallet via credit or debit card, bank transfers, or from their fellow GrabPay Wallet users (via peer-to-peer transfers).
Paying for services within the Grab ecosystem
GrabPay Wallet is optimised to help Grab users pay for the following in-app services:
l GrabCar: Users can pay for rides directly through the GrabPay Wallet and get incentives like discounts and additional GrabRewards points for GrabPay Wallet users.
l GrabFood: Orders can be paid for using GrabPay Wallet, allowing users to enjoy food delivery with just a few taps.
l GrabExpress: Payments for GrabExpress services can also be made via GrabPay Wallet, facilitating same-day package deliveries through Grab's network of riders.
l Insurance: Users can get travel insurance with just a few taps on the app, and pay with their GrabPay Wallet balance.
l GrabGifts: Users can buy customisable vouchers for friends and colleagues – and use GrabPay wallet to pay for them all.
l Bill payments: GrabPay Wallet allows users to pay bills for over 20 different billers directly through the app, streamlining household management.
l Mobile load: Users can buy prepaid mobile load and data plans through the Grab app, funded from their GrabPay Wallet.
In-store and online shopping
GrabPay Wallet can also be used to pay for retail transactions outside the super app. Users can pay by scanning QR codes (for in-store purchases) or by selecting GrabPay Wallet as a payment option during checkout.
l In-store purchases: GrabPay Wallet is accepted at numerous merchants, enabling cashless payments by scanning a QR code at checkout. This includes popular retailers like Watsons and Starbucks.
l Online shopping: Users can shop online at various e-commerce platforms by selecting GrabPay as their payment option during checkout.
Earning GrabRewards
Every GrabPay Wallet transaction earns users GrabRewards points that can be redeemed for discounts or freebies. GrabRewards points do not expire, as long as the user makes one eligible Grab transaction in a six-month period. Users are thus incentivised to keep using their Grab Wallets for transactions.
Users can use GrabRewards points for the following:
- Pay with points to offset in-store payments and package deliveries
- Redeem vouchers from the GrabRewards catalogue
- Participate in seasonal promos like Lucky Draws
Key benefits of GrabPay Wallet
Merchants can use GrabPay Wallet's built-in features to enhance their operations and customer engagement. Consider the following benefits listed here.
l QR code technology. QR codes streamline GrabPay Wallet payments, reducing transaction times while enhancing the overall customer experience. To maximise its effectiveness, merchants should prominently place QR codes near checkout areas and train staff to help customers with scanning and processing payments.
l Loyalty programme integration. The GrabRewards programme encourages repeat purchases that help businesses nurture customer loyalty. Merchants can also use Grab's tools to build a customer database and create brand-specific loyalty rewards, all driving higher sales and building a stronger connection to your brand.
l Robust security. GrabPay is PCl DSS level 1 compliant, the highest standard of security for payments. To safeguard transactions, Grab employs advanced measures like encryption and tokenisation to protect transaction data. Grab PIN and biometric 2FA authentication also prevents unauthorised access to GrabPay Wallets.
l Boosted sales. Merchants that accept GrabPay Wallet may experience higher conversion rates and lower cart abandonment rates, as customers are more likely to complete purchases when offered convenient payment options.
l Widespread acceptance. Over six million merchants and partners accept GrabPay Wallet as a payment method. This includes retail outlets, restaurants, ride-hailing services, and online marketplaces. Merchantscan enhance their visibility by participating in Grab-sponsored campaigns.
l Financial inclusion. Over 70% of Southeast Asia's adult population count as either "underbanked" or "unbanked". GrabPay Wallet gives these bank-deprived individuals the ability to access financial resources on their smartphones – bridging the gap between merchants and a vast, untapped market with an aptitude for cashless transactions.
How merchants can integrate GrabPay Wallet as a payment method
There are two ways to integrate GrabPay Wallet into your business:
l With existing systems. Merchants can easily integrate GrabPay Wallet through merchant payment services providers such as Antom. The platform helps businesses seamlessly integrate over 40 payment options, bank transfers, online banking, and digital wallets like GrabPay Wallet and more.
l With e-commerce platforms. GrabPay Wallet is supported by major e-commerce platforms around Southeast Asia, such as Tokopedia, Lazada and Shopee. This compatibility makes it ideal for online retailers looking to tap into the tremendous potential of the region's digital marketplace.
Merchants using GrabPay Wallet enjoy Grab's continuing support – demonstrated by the following perks and features:
l Unified reporting features. Merchants on the Grab superapp can log onto the Grab Merchant portal to view and manage transactions on a single pane of glass. The portal provides merchants with comprehensive transaction histories, which aid in financial reporting and analytics.
l Support resources. GrabPay Wallet grants merchants access to a comprehensive Merchant Resource Centre that houses Grab's toolbox of assets and guidelines; and dedicated account managers who can advise merchants on optimising their payment processes.
l Ongoing data science R&D. Grab continually improves on GrabPay Wallet by introducing new features and improving existing services based on user feedback and technological advancements.
Getting started with GrabPay Wallet
GrabPay Wallet is constantly evolving, with upcoming features likely to include enhanced fraud protection, faster transaction times, and greater integration with more regional partners in Southeast Asia. Keeping abreast of these changes will allow merchants to leverage the full potential of this broadly-used e-wallet.
As an international merchant looking to enter Southeast Asian markets, mastering tools like GrabPay Wallet will be crucial to your success. With its broad range of supported payment methods, strong security measures, and integration capabilities, GrabPay Wallet stands as one of the leading e-wallet solutions in the region.
For more insights and a customised strategy on using e-wallets like GrabPay Wallet in local markets, reach out to Antom's payment experts today. Let us guide you in providing the ideal payment choices and coverage for your customers.
