Payment solutions provider GHL Systems Berhad has teamed up with Grab to enable Grab’s PayLater payment feature for selected online merchants who are utilising the eGHL Payment Gateway.

Grab’s PayLater is a buy-now-pay-later (BNPL) service that was first introduced by Grab in 2019, allowing users to use Grab services before paying for them at a later date in a single bill. Described as a convenient way for users to pay for their online purchases and manage their monthly cashflow, the service was temporarily suspended in April 2020, before being relaunched with enhanced 0% instalment options.

“Users can choose to make a single payment at the end of the month, or split their payments into four monthly instalments with zero interest charge. This also removes the burden of relying on other payment methods such as credit cards, which normally comes with additional charges of annual fees, and late repayment fees plus interest,” said GHL in a joint statement.

GHL further said that merchants, too, can benefit from the PayLater payment feature. “For merchants, with the inclination towards e-commerce and digital payments speculated to grow in the next few years, PayLater is envisaged to facilitate their sales conversion and contribute to keep their businesses thriving, regardless big or small,” it stated.

The chief executive officer of GHL, Sean S. Hesh also chimed in to emphasise the two-way benefits achieved by enabling PayLater for GHL’s online merchant base. Consumers will have access to a more flexible and higher purchasing power, whereas merchants will be able to gain higher sales revenue.

“Merchants with large ticket items do not have to worry about missing out on consumers. This flexible option is timely given employment and earnings capability of many has been adversely impacted by the Covid-19 pandemic,” said Sean.

Do note that PayLater is only available to eligible Grab users, with a personalised spending limit that is determined by Grab’s analysis of the user’s profile. To be eligible for PayLater, you will need to be 21 years old and above, and are a Silver, Gold, or Platinum tier Grab member. Additionally, you must have paid for three Grab transactions in recent months using either cash, credit card, or debit card.

You can find out more about Grab’s PayLater service here.

(Sources: Fintech News Malaysia, The Edge Markets)

• TAGS:
• BNPL Solution
• Buy-Now-Pay-Later Payment Solution
• GHL Systems Berhad
• Grab
• Grab PayLater
• Sean S. Hesh