Grab said it will no longer accept new applications for the digital or physical GrabPay Card from April 1. - MASTERCARD
SINGAPORE: Grab will be discontinuing its GrabPay Card from June 1. In an announcement on its website, the digital technology and ride-hailing company said that starting June 1, users will no longer be able to make online or offline transactions with their digital or physical GrabPay Card.
Billed as Asia’s first numberless card during its launch in 2019 by Grab and payment technology corporation Mastercard, the GrabPay Card allowed users to spend with their GrabPay e-wallet balance, offering GrabRewards points for transactions with food and beverage merchants.
The details of the card are stored within the Grab app, with an in-app personal identification number-protected lock card function that allows users to instantly suspend payments for lost cards.
During the launch, both companies touted the “unparalleled card security” of their joint offering, which could be used online or offline, regardless of whether users had a bank account.
In its announcement, Grab cited an evaluation of its existing financial services business as the reason behind the card’s discontinuation. It said it had observed much higher adoption and use of other Grab offerings, such as PayLater, the GrabPay e-wallet, that better cater to the needs of its users.
“We aim to thus concentrate our efforts on refining these products to provide an even better user experience for you,” it added, thanking customers for their support of the GrabPay Card over the last few years.
Grab said it will no longer accept new applications for the digital or physical GrabPay Card from April 1.
Users can still request a replacement for the physical card until April 30. Those who have yet to activate a physical GrabPay Card can do so until May 31.
Users can also continue earning GrabRewards points with all eligible online and in-store transactions, both locally and overseas, with their GrabPay Cards until May 31.
Grab said it will still assist with all ongoing disputes or investigations until Sept 30.
The Straits Times has contacted Grab and Mastercard for more information. - The Straits Times/ANN
