Seize to Discontinue GrabPay Card in June, Citing Consumer Choice for PayLater, Pockets

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April 2, 2024

Southeast Asian ride-hailing superapp Seize has declared that its GrabPay Card service can be phased out, efficient 1 June 2024. The choice impacts each digital and bodily variations of the cardboard.

Ranging from 1 April 2024, Seize will stop accepting new functions for the GrabPay Card. Cardholders can request a alternative for his or her bodily playing cards till 30 April 2024, past which no alternative requests can be entertained.

The cardboard will proceed to perform usually, permitting customers to earn GrabRewards factors on qualifying purchases, each regionally and internationally, till the top of Might 2024. Nevertheless, a 2% processing price for abroad transactions will nonetheless apply.

For these holding an inactive bodily card, activation is feasible up till 31 Might 2024. Publish this deadline, each the bodily and digital card will now not help any on-line or offline transactions.

Seize stated in a assertion,

“After cautious consideration, we’ve determined to discontinue the GrabPay Card efficient 1 June 2024. This resolution comes after an analysis of our present monetary providers enterprise.

 

We have now noticed a lot greater adoption and use of different Seize choices (corresponding to PayLater by Seize, GrabPay Pockets) that higher cater to the wants of our customers. We intention to thus focus our efforts on refining these merchandise to supply a fair higher consumer expertise for you.”

Regardless of the phase-out of the GrabPay Card, Seize stated that it’ll proceed supporting its customers within the occasion of fraudulent transactions or disputes, providing help up till 30 September 2024. Moreover, the cardboard can nonetheless be utilised for worldwide funds at Mastercard retailers till its discontinuation date.

The termination of the GrabPay Card service won’t have an effect on the GrabRewards factors system, with factors remaining legitimate so long as customers interact in not less than one points-earning transaction per thirty days.

Likewise, the steadiness in customers’ GrabPay Wallets will stay unaffected, with the pockets persevering with to be accepted for transactions throughout the Seize ecosystem and at companion retailers.

As for the bodily playing cards, as soon as discontinued, customers are suggested to destroy and eliminate them to make sure safety.

 

Featured picture credit score: Edited from Freepik





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