GrabPay enhances safety features

by SHAFIQQUL ALIFF / pic by TMR FILE

GRAB Malaysia has added multiple layers of security features in GrabPay to protect every transaction.

According to Grab Malaysia, it is designed to protect users from fraud and security risks, which is part of Grab’s continuous efforts and investments to provide a safe and secure payments platform for its subscribers.

It said the enhancement is also regulated by Bank Negara Malaysia and users’ wallet balances are stored and protected with Grab’s global banking partners.

Head of GrabPay Grab Malaysia Priyanka Madan said all GrabPay users are required to create a six-digit pin if they have not done so previously and they will also have an option to activate added biometric authentication.

She said the security measures such as fingerprint or Face ID are also added to further protect users’ information based on their mobile device settings.

“As a homegrown tech enabler, we have always advocated for safe, convenient and seamless digital payments.

“We prioritise our users’ data privacy and information protection across all our financial services and platform.

“Against the backdrop of the steep growth of real-time digital payments among Malaysians this past year, we have continued to innovate our services to better serve the digital financial needs of our consumers and merchants,” she said.

GrabPay has implemented and continually optimised various safety and security measures to protect its users from all transactions online or offline.

Priyanka added that this includes the expansion of GrabPay’s partnerships to integrate PayLater by Grab for a more inclusive, flexible and rewarding payment option while helping Malaysians manage their spending.

“As a result, 35% of new GrabPay users made successful online purchases from our merchants during the early months of the Shop Malaysia Online campaign, while 80% of our PayLater consumers are using the service as a budgeting tool for their online spending.

“Now, with the added two-factor authentication feature on our platform, our consumers have greater peace of mind when they pay with GrabPay,” she said.