Payment solutions provider GHL Systems will continue the rollout of Grab‘s Buy Now, Pay Later (BNPL) service for its in-store merchants following the enablement of PayLater back in 2021 for online purchases.
PayLater by Grab gives consumers the flexibility of making payment in the following month or in four monthly instalments with 0% interest.
Through this expanded partnership with Grab Malaysia, merchants using GHL’s terminals can now offer their shoppers more payment options when making purchases in physical stores.
Consumers can also earn GrabRewards for every PayLater transaction for more benefits and savings on Grab’s platform.
Kevin Lee, CEO of GHL Malaysia said,
“We’re excited to partner with Grab Malaysia to extend PayLater to our in-store merchants. We believe that this offering is able to empower both the merchant and consumer, especially in this post-pandemic time with expectations of increased foot traffic.
By enabling PayLater, consumers can stay on top of their budget and gain greater purchasing power, while driving sales for merchants.”
Lim Tien Ming, Head of Payments, e-Commerce, and Insurance at Grab Malaysia said,
“This partnership with GHL is timely as consumers are now more open to buying now and paying later (BNPL). In fact, a recent ResearchAndMarkes.com report highlights that BNPL payment adoption is expected to grow steadily, recording a compound annual growth rate of 35.4% during 2022-2028.
Therefore, PayLater encompasses this and is a natural progression in our evolution of vast financial offerings through our platform as it provides more flexibility and encourages shoppers to shop responsibly.”