In an announcement on its website, the digital technology and ride-hailing company said that starting June 1, users will no longer be able to make online or offline transactions with their digital or physical GrabPay Card.
The details of the card are stored within the Grab app, with an in-app personal identification number-protected lock card function that allows users to instantly suspend payments for lost cards. In its announcement, Grab cited an evaluation of its existing financial services business as the reason behind the card’s discontinuation. It said it had observed much higher adoption and use of other Grab offerings, such as PayLater, the GrabPay e-wallet, that better cater to the needs of its users.
Grab said it will no longer accept new applications for the digital or physical GrabPay Card from April 1.
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