A ride-hailing and logistics services company 'Grab' comes with in-store and in-restaurants payments feature 'GrabPay' digital wallet for hawker stalls, restaurants and shops in Singapore. This launch represents another milestone in the company's transformation from on-demand transportation platform towards the largest consumer internet platform in Southeast Asian countries through its app. GrabPay services for restaurants and shops will progressively roll out in local brands Telok Ayer, Tanjong Pagar and Tiong Bahru and on-board 1,000 merchants in Singapore by the end of year.
It wants to expand the GrabPay wallet services throughout Southeast Asia by 2018. Consumers and Merchants will get benefits through GrabPay like Zero transaction costs for the first 6 months and after that with low cost to the merchants. Grab Reward points scheme will be starting in November. Grabpay provides more security to the consumers with the help of GrabPay PIN as a second factor authentication (2FA). Grab app users can scan a merchant's QR code and key in the amount that they want to pay and swipe an icon to confirm the transaction when ordering food.