Good news to KLIA Ekspres users! The KLIA Ekspres is known as a non-stop high-speed train service that connects the Kuala Lumpur International Airport (KLIA) and the city centre. The consumers could not only use their GrabPay Credits at participating GrabPay merchants, but also Maybank’s nationwide network of QR-enabled merchants.
Let’s not forget their recent partnership with Maybank.
EWALLET MALAYSIA OFFLINE
Another unique feature is the GrabPay’s robust wallet top-up option, ranging from online banking (FPX and MOLPay), debit and credit cards (Visa, Mastercard, American Express, Union Pay and JCB) and even offline at 7-eleven outlets. The built-in credit transfer feature allows the users to transfer money instantly via phone number or Grab QR codes within the app.
EWALLET MALAYSIA FREE
The users could earn points from each transaction, which could be used to earn free Grab rides and discounts on GrabFood in future. To encourage Grab users to adopt GrabPay, GrabPay has integrated with the Grab Rewards scheme. With GrabPay, the Malaysian consumers could own an e-wallet without downloading an additional app. The deep integration of GrabPay into Grab’s other services is the competitive advantage of Grab over other e-wallet apps. As part of the Grab Platform ecosystem, the GrabPay could be used by the Grab users to by pay for Grab rides, GrabFood (food delivered by Grab) and in-store items. The Grab app emerges as the most actively used app, according to a research conducted by App Annie Intelligence, which is a mobile data and analytics platform, together with iPrice Group, an information aggregator platform in Southeast Asia. The ride-hailing company Grab has unlocked the GrabPay e-wallet feature in its app for Malaysia users.
Now, let’s have an overview of the features of e-wallets available in Malaysia and the benefits from using them.
In recent years, the prominence of e-wallets in Malaysia has grown significantly, mainly driven by the Government’s effort and active marketing efforts by the merchants, as discounts and promotions are proved to be the most attractive marketing strategies to Malaysians. Thus, the outlook for digital payments is certainly bright entering into the year 2020 and beyond. Our country’s Internet penetration rate is reported at 80%, whilst smartphone penetration is recorded at 63%. The Government has allocated RM450 million to Khazanah Nasional for the implementation of this policy, which reflects the Government’s determination to boost the growth of the e-wallets. By encouraging the adoption of e-wallets among the merchants and SMEs, this approach is believed to benefit up to 15 million Malaysians. To redeem this stimulus, the users are required to possess an identity-verified e-wallet from the selective service providers. To drive Malaysia towards the Information & Communication Technology (ICT) and Industry 4.0, the Government has introduced a one-time RM30 digital stimulus for eligible Malaysians aged 18 and above with an annual income less than RM100,000. By transforming into a cashless society, Malaysia would benefit from annual cost saving of 1% in our GDP, as evidenced by the Bank Negara Malaysia’s Financial Sector Blueprint for 2011 to 2020. Our Government has expressed concern towards the low adoption of digital payments among Malaysia community, which is only 8% according to a survey report by Nielsen in January this year. The recent announcement of Budget 2020 themed “Shared Prosperity: Sustainable and Inclusive Growth towards High Income Economy” by our Finance Minister, Lim Guan Eng, has been the hot topic of the town.