International Finance

GrabPay’s active users increase by 50% amid digitalisation push

GrabPay users

GrabPay has announced that its active ewallet users have increased by around 50 percent, according to local media reports.

GrabPay has also hugely benefitted from the e-Tunai Rakyat initiative, launched by the Malaysian government. The initiative, which was launched by the government on January 15, aims to encourage the adoption of a digital economy.

As a part of the initiative, the government started offering RM30 sign-up bonus for users.

GrabPay managing director Ooi Huey Tyng said in a statement, “When we launched GrabPay a year ago, we viewed the cashless culture beyond a onetime push but a long term change in user’s payment habits, with the vision to be the Rakyat’s e-wallet.”

“We are encouraged by the interest from the public when the government first announced the initiative last year, as such, we have been fortifying our platform to ensure upon the launch of the initiative, our platform will be stable and have minimal impact on the user’s journey.”

He further revealed that around 50 percent of GrabPay’s ewallet users have already made a transaction with the RM30 they received as a sign-in bonus.

According to him, GrabPay anticipates these numbers to further increase in the coming days.

The Malaysian government allocated RM450 million for the e-Tunai Rakyat initiative and selected ewallet service providers such as Grab, Touch ‘n Go and Boost to be part of the initiative.

The startup recently announced that it will launch the numberless GrabPay Card in Malaysia this year. It will also launch GrabPay card in the Philippines within the first quarter of 2020.

The same service was launched by GrabPay in Singapore last year.

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