Malaysians and contactless payments adoptions during the pandemic
According to a report by Bank Negara Malaysia, the volume of e-wallet payments have increased by 131% since 2019. The national QR code will make it even easier for consumers to shop safely, reducing physical contact and saving shoppers’ time.
The number of merchants accepting QR code payments has also increased. The same report by Bank Negara Malaysia found that the number of merchants registering for QR code payment acceptance has risen by 165% since 2019, indicating that businesses are prepared for cashless payments. With this seamless unified payment option, merchants will see efficiencies in their day-to-day operations thanks to the reduction in managing physical cash, sales reconciliation and paperwork.
“We see many opportunities at Grab to encourage businesses of all sizes to digitalise and embrace digital payments. In the past year, we have welcomed a wide variety of merchants to the platform, from small businesses to large nationwide chains and many consumer goods brands. We are pleased to be a participant of DuitNow Real-time Retail Payments Platform (RPP) ecosystem to enable retailers throughout Malaysia to serve Grab users, while consumers themselves will find it even easier to purchase essential items.
"The implementation of the DuitNow QR code is timely considering recent economic shifts and the most critical needs of users and merchants. Both groups can easily, safely and quickly transact with each other, and shoppers have every opportunity to be more economical with their spending,” said Priyanka Madan, Head of GrabPay, Grab Malaysia.
How to use GrabPay DuitNow QR code?
It's simple. GrabPay users simply launch the Grab app, open the QR scanner and scan any DuitNow QR code to pay. With Grab’s Merchant Discovery, GrabRewards and Save with Points features, GrabPay users can easily identify GrabPay DuitNow Preferred Merchants, earn points and save money on every transaction.
What is Grab’s ongoing commitment to safer online and digital transactions?
In line with the growth of online and digital payments, Grab is advocating for safer, more convenient and seamless digital payments. Some of the recent efforts introduced to protect our users and their GrabPay wallets include:
- An in-app safety centre to educate and keep users updated on how we are protecting their wallets
- Partnerships with globally recognised security systems with award-winning fraud detection to ensure all GrabPay transactions are safe
- Strong in-house fraud and security team with robust processes and customised algorithms to prevent and detect fraud
- Periodic reminders to users to be mindful of scams and to not disclose TAC codes
For more information about GrabPay DuitNow QR, please click HERE.
*The above article is intended for informational purposes only. Loanstreet accepts no responsibility for loss that may arise from reliance on information contained in the articles.
