E-wallets are becoming more and more common in Malaysia, with shopping malls, cafes and even some roadside stalls offering the option to use them.
Paying with PayLater is just like any other payment method, but the only difference is that you don’t need to pay right away, Grab will let you pay your bill in one go at the end of the month. According to Grab, there are no additional fees for using their PayLater service.
It is also worth noting that Grab will assign each customer a unique PayLater amount available to them based on their profile (this balance cannot be changed at this time) for the customer to transact, with two payment options available.
1) PayLater Postpaid
Users can make transactions using a specific spending limit and the benefit of using this payment method is that users will receive Grab Points. The total number of transactions will be cleared at the end of each month and users will need to settle by the due date (7th of the month).
2) PayLater instalments
The benefit of this payment method is that the customer can split the transaction into 4 months of interest-free instalments.
Users simply top up that balance via their GrabPay wallet before the due date and Grab will automatically deduct the amount on due date. If your eWallet balance is insufficient, Grab will automatically charge through the connected credit card. If the balance on the user’s card is also insufficient, the user is likely to face a late checkout, closure of their PayLater account and a RM10 fine.
However, this service is not currently available to all users and only certain users are eligible.
