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Banking & Finance

Grab introduces new cashless payment method

Released at: 18:15, 17/10/2018

Grab introduces new cashless payment method

Photo: Grab

GrabPay by Moca to bring customers new and secure cashless payment solution.

by Hung Cao

Grab has recently announced the launch of payment solutions from Moca under a brand-new cashless payment method called GrabPay by Moca, to bring a swift, seamless and secure cashless payment experience to Grab users in Vietnam. The move is one of the results of the strategic partnership between Grab and Moca to promote cashless payments, announced by the two companies in September. 

With this new cashless payment method, Grab customers will be able to pay with ease and enjoy attractive promotions in the GrabRewards loyalty program. The security of users’ personal information is guaranteed under advance payment security and fraud prevention protocols, giving customers peace of mind when using the service. 

The launch of GrabPay by Moca is being implemented in batches and is expected to be completed within October. Customers don’t need to download the Moca app; they will be able to use GrabPay by Moca from within the Grab app.

Prior to activation completion, users’ GrabPay Credits balance will not be displayed. Any balance on GrabPay Credits will be migrated to the GrabPay by Moca wallet and be available for use following activation completion. For customers using the Moca app, the existing balance on the Moca wallet (if any) will be merged with the balance on the GrabPay by Moca wallet after completing activation.

In cases where the activation process cannot be done, users still have cashless payment options for services on Grab by using international credit and/or debit cards via the payment gateway service of Moca when adding these cards on the Grab app.

This cashless payment method can only be used for GrabCar, GrabBike and GrabExpress. In accordance with regulations, customers cannot top up directly from a credit card to an e-wallet. In cases where customers do not use an ATM card issued by banks in cooperation with Moca, the current balance in GrabPay Credits (if any) can be refunded or converted into promo codes of the same value.

Grab and Moca last month announced a strategic partnership to promote cashless payments on the Grab platform and in Vietnam. Moca and Grab will leverage each other’s technological expertise and partner networks to roll out payment services to millions of Vietnamese consumers and small and medium-sized enterprises (SMEs).

They will be able to expand payment services more quickly and efficiently throughout Vietnam via the strategic partnership. Moca-enabled merchants will soon be able to benefit from the Grab app’s large customer base, comprising both driver-partners and consumers.

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