Grab has decided to discontinue the GrabPay Card five years after its launch.
From 1 June, cardholders will not be able to make transactions using both physical and digital versions of the card.
Source: TheSmartLocal
The company has already stopped accepting new applications for the card.
Grab announced the discontinuation of the GrabPay Card via a notice on its website on Monday (1 April).
Besides the ceasing of all online or offline GrabPay Card transactions from 1 June, physical cards will also be unable to be activated from that date.
Thus, those possessing a physical card have until 31 May to activate their cards.
Given its impending discontinuation, customers can still replace their physical cards until 30 April, Grab said.
After that date, no card replacement requests will be entertained.
Grab also stopped accepting new applications for both digital and physical cards from Monday (1 April).
Source: Grab
As for GrabRewards points, customers can still earn them with their GrabPay Card till 31 May.
Source: TheSmartLocal
The number of points earned on eligible online and in-store transactions will not be changed.
However, a non-refundable 2% processing fee still applies for overseas transactions, Grab said.
Grab said it arrived at the decision “after careful consideration”.
Explaining the move, it said it came after evaluating its existing financial services business, adding:
We have observed much higher adoption and use of other Grab offerings (such as PayLater by Grab, GrabPay Wallet) that better cater to the needs of our users.
Thus, the company aims to concentrate efforts on refining these products to provide customers with an even better user experience.
Thanking customers for their support over the years, Grab remains committed to serving them through its other financial offerings, it said.
The GrabPay Card, introduced in 2019, was dubbed Asia’s first numberless physical card for enhanced security.
The prepaid card allows users to spend their GrabPay e-wallet balance anywhere that accepts Mastercard.
They can also earn GrabRewards points with their F&B purchases, with no cap on the amount of points that can be earned.
Source: TheSmartLocal
The GrabPay Card can also be used to take public transport, earning points along the way.
Its details are secured with biometrics and PIN authentication via the Grab app, so it can be locked using the app if it’s lost.
Also read: GrabPay To Charge $1 For Top-Ups Using Visa Credit Cards, Mastercard & PayNow Will Be Free
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Featured image adapted from TheSmartLocal.
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