GrabPay has a user base of 4 million in Singapore and a service which requires no new payments devices. The latest development of the GrabPay wallet follows after the launch of its peer-to-peer payments service in October 2017 and GrabPay Credits, its top-up service, in 2016.
GrabPay will focus on Singapore’s more than 20,000 local, cash-based merchants. Grab’s first 25 restaurants and hawker stalls in the Central Business District and Bishan area were signed up running up to the official launch of its service.
The GrabPay service for restaurants and shops will progressively roll out in local neighbourhoods, such as Telok Ayer, Tanjong Pagar, and Tiong Bahru and on-board 1,000 merchants in Singapore by end 2017. Beyond Singapore, Grab confirms it will launch the GrabPay wallet across Southeast Asia in 2018.
The GrabPay platform is also designed to be scalable and flexible to work with other QR-code-based mobile payments systems in Singapore.
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