GrabPay Introduces 1% Fee on Credit Card Reloads Starting Sept 11

By Loshinniy Nair S. Baskaran,

23rd August 2024 – GrabPay eWallet users will face a 1% fee for credit card reloads beginning September 11, 2024. The change, announced by Grab, will affect most credit cards, except for certain co-branded Maybank cards. Other payment methods, such as bank transfers, debit cards, and GX Bank, will remain free of charge.

This move mirrors TNG Digital’s earlier introduction of a similar fee, which was attributed to high operational costs related to credit card transactions. Grab has yet to elaborate on the specific reasons behind this fee introduction.

The decision aligns with a broader trend in the eWallet sector, where companies are increasingly passing on transaction costs to users. This change may impact frequent users who rely on credit cards for eWallet reloads. While the fee might seem nominal at 1%, it represents a significant shift in the cost structure for GrabPay users, particularly those who regularly use credit cards for large reload amounts.

GrabPay has been a popular choice for digital payments in Malaysia, offering a seamless experience for online and offline transactions. The new fee might prompt users to explore alternative payment methods or eWallets that do not impose such charges. It remains to be seen how this change will affect GrabPay’s user base and whether it will influence broader industry practices.

For now, users are advised to review their payment options and consider the potential impact of this fee on their overall transaction costs within the GrabPay ecosystem, as stated in The Star.