KUALA LUMPUR: Revenue Group Bhd is collaborating with Grab Malaysia to make the latter’s PayLater as an in-store payment option for its merchants.
PayLater by Grab 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 on the users as long as the payments are made timely.
Revenue Harvest Sdn Bhd chief executive officer Loo Tak Kheong said the company sees synergies in this arrangement as it allows both parties to leverage each other’s strengths.
“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.
“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,” he said in a statement today.
Grab Malaysia payments, e-commerce, and insurance head Lim Tien Ming said that as businesses continue to thrive and with the growth of cashless payments post-pandemic, it is important for the company to work with like-minded partners to enhance the shopping experience, especially for in-store.
“By leveraging Revenue Group’s wide merchant base, we can 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, saving with every transaction.
“All in all, we are excited by this partnership and will work closely to educate merchants and users of the benefits of PayLater,” he said.
Source: New Straits Times