Grab has announced that there will be a new 1% fee to top up the GrabPay e-wallet using credit cards, following in the footsteps of other e-wallet providers in recent times. The new fee will be imposed starting 11 September 2024.

The announcement is not wholly unexpected, as other major e-wallet service providers including Touch ‘n Go eWallet and Boost have already imposed a 1% fee much earlier in February this year. Very few e-wallet companies are left that do not impose this fee, with ShopeePay being the largest remaining e-wallet (though it had already introduced some restrictions when it comes to funds reloaded via credit cards).

In its announcement, Grab reiterated that other reload methods are completely free of charge, including debit card, online bank transfer, GXBank direct transfer, and DuitNow transfers. Interestingly, there will be one credit card where this top-up fee will not be imposed: the Maybank Grab Mastercard Platinum co-brand credit card.

Since its introduction in Malaysia back in June 2018, GrabPay has remained one of the major e-wallets operating in the country. Early adopters will have fond memories of its early days when it used to offer up to 20x GrabRewards Points per RM1 spent that yielded rates of return that were shockingly good.

Fast forward six years later, Grab’s payments ecosystem now includes Grab PayLater and the GXBank digital bank alongside the GrabPay e-wallet, and while the GrabRewards feature remains, its rates of return today are far more modest compared it its 2018/2019 heyday.

(Source: Grab)

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• GrabPay