What are the updates Grab is introducing to PayLater?
Firstly, Grab is extending PayLater to non-active Grab users. As such, Grab is collaborating with CTOS to conduct credit checks to determine if they are eligible for PayLater.
Secondly, Grab is extending the use of PayLater postpaid and instalments to include in-store purchases as well.
Why is Grab introducing these new updates?
- Growing popularity of BNPL – eConomy 2021 report indicates that consumer search for BNPL services in the region have increased by 16x.
- Collaboration with CTOS enables Grab to provide PayLater as a convenient and seamless payment option to those who are non-active Grab users*.
- Since we are in an endemic stage, more people are now shopping in-stores again, therefore, the extension of PayLater for in-store purchases provides more flexibility and encourages shoppers to shop responsibly**.
Who can apply for PayLater?
Effective 30 November 2022, anyone can now apply to use PayLater postpaid and instalments. They only need to provide necessary information via the Grab app so that CTOS can conduct the necessary credit checks. If deemed eligible, applicants will receive a notification to activate PayLater.
Will Grab have visibility on the CTOS score?
Yes, Grab will be able to view users’ CTOS credit score as consented by users prior to the “Check Eligibility” flow. The consent is in accordance with Grab’s Privacy Notice.
When can users start using PayLater to pay for their in-store purchases?
Malaysians who have activated PayLater can start using PayLater for in-store purchases effectively from 30th November at selected merchant partners.
How can users make payment for in-store purchases with PayLater?
Grab will be updating the in-app payment process to now factor in PayLater for in-store purchases.
What type of merchants can users use PayLater to pay for their purchases?
Some of the merchants that are accepting PayLater for in-store purchases include ALL IT Hyperrmarket, Gamer’s Hideout, Li Ning, Wacoal and OSIM.
