Grab and Maybank have announced a strategic partnership that will see the two companies collaborate to deploy their cashless solutions to the public. The companies are entering into a cross platform agreement that will allow users to interact between the services seamlessly.
The big news here is that GrabPay will soon work as a mobile wallet with all Maybank key merchants. Allowing people to use the Grab app to pay at cashiers across the country. At the same time, Grab is entering into agreements with other merchants to roll out its own GrabPay services. All of which will also work with Maybank QRPay.
Maybank2U users will also have the option to directly top up their GrabPay wallets directly through online banking.
Grab had announced last week that it is looking to expand its services beyond ride-sharing. The company said that it would be exploring its options with turning GrabPay into a full fledged digital wallet, having received an e-money license from Bank Negara late last year.
The agreement is still awaiting regulatory approvals, which will come in time. Meaning that there is still some time before people will be able to run out to stores and begin paying for things with their Grab apps.