South East Asia’s ride hailing giant, Grab and Malaysia’s largest bank Maybank, has announced their partnership to drive the acceptance and usage of GrabPay in Malaysia. This partnership also involves collaborative efforts to drive merchant acquisition.
Maybank’s Malaysia customers will soon be able to use the GrabPay mobile wallet to conduct both payments at Maybank’s key merchants, and to top-up their mobile wallet directly from their Maybank2u accounts
Grab secured its e-money licence from Bank Negara Malaysia in December last year, and it is reported that they will be launching a beta version of GrabPay in Malaysia in the coming weeks. Beyond just mobile wallets Grab has also previous announced its grand fintech ambitions which is primarily geared towards financial inclusion and insurance.
Prior its partnership with Grab, Maybank has also gone into a partnership agreement with AliPay in early 2017.