The Main-Market listed leading payment solutions provider is partnering with Grab Malaysia to make PayLater by Grab available as an in-store payment option for its merchants.
PayLater is a flexible and convenient payment method that enables users to make purchases and pay for them either the following month or in four monthly instalments.
Additionally, PayLater does not impose any interest, upfront costs or fees to the users as long as the payments are made timely.
“We are thrilled to work alongside Grab to make the convenience and seamlessness of cashless payments for in-store purchases available to merchants and consumers. This facility has already been rolled out in the market. We see synergies in this arrangement as it allows both parties to leverage on each other’s strengths,” Chief Executive Officer of Revenue Harvest Sdn Bhd, Mr. Loo Tak Kheong remarked.
“More importantly, this provides consumers with an additional payment method that improves consumers’ cash flow, especially when shopping for higher value items as these purchases can be fractionalised into smaller amounts over a specified period,” Mr Loo added.
“This is also a positive development for our merchants as this may stimulate sales without additional processing and application cost given that our terminals can integrate PayLater seamlessly,” Mr Loo concluded.
“As businesses continue to thrive and with the growth of cashless payments post pandemic, it’s important for us to work with like-minded partners to enhance the shopping experience, especially for in-store,” Head, Payments, E-Commerce and Insurance of Grab Malaysia, Lim Tien Ming said.
“By leveraging Revenue Group’s wide merchant base, we are able to strengthen our omnipresence and offer Grab users in Malaysia flexible payment options to shop for their needs responsibly while still earning GrabRewards. They can then use their GrabRewards to offset other payments, essentially saving with every transaction. All in all, we are excited by this partnership and will work closely to educate both merchants and users of the benefits of PayLater,” Lim concluded.
Source: Business Today