Grab has introduced PayLater and it’s a feature which offers a line of credit of sorts to its users. As the name suggests, you can use Grab rides, Grab Food and Grab Express deliveries, and then pay for it in the following month.
The service has been released in Singapore earlier this year and it’s now rolling out as a beta trial in Malaysia.
Instead of paying for your Grab rides via your GrayPay eWallet or credit card at the end of each trip, you’ll receive a single bill after the end of each month. There’s no extra charge or interest as long as you pay your bill on time. Unlike a credit card, you can’t carry forward your balance and you must settle the bill in full.
The due date for the bill falls on the 7th of the following month and you have to pay via GrabPay. You can use your credit or debit card to settle the balance by topping up your GrabPay eWallet first. For users that fail to settle the bill by the due date, the PayLater service will be suspended and you’ll have to pay a RM10 admin fee for the suspension.
According to the FAQ, you are not allowed to settle your bill if you’re out of the country. This is something that Grab needs to fix but you are able to request for an admin fee waiver by reaching out to their Help Centre.
Each user will be given a pre-approved “credit limit” and the amount will be assigned based on your usage. If you don’t wish to use PayLater, you can always change your payment method to cash, GrayPay or to your assigned credit cards.
According to Grab, PayLater is currently available for selected users until further notice. It isn’t clear when the service will be released officially for Malaysia. Would you use Grab PayLater? Or would you rather pay as you go via GrabPay? Let us know in the comments below.
You can learn more on Grab’s PayLater page.
