GrabPay users in Singapore and Philippines will no longer be able to use their GrabPay physical or digital cards for online and offline transactions from Jun. 1, 2024.

The GrabPay Card is an extension of the GrabPay Wallet e-wallet, which allows for GrabRewards points accumulation and functions as a regular Mastercard for payment at selected merchants using the available GrabWallet balance.

Grab announced on Apr. 1 that the decision to discontinue GrabPay cards came after an evaluation of the company's existing financial services business.

The ride-hailing company noted "much higher adoption and use of other Grab offerings (such as PayLater by Grab, GrabPay Wallet) that better cater to the needs of our users".

What this means for users

Grab said that it will no longer accept new applications for the digital or physical GrabPay Card with effect from Apr. 1, 2024.

Those who require replacements for their existing physical GrabPay cards will only be able to submit requests until Apr. 30.

Users who have not activated their physical cards can still activate them until May. 31, but will not be able to use their GrabPay cards for transactions after this date.

GrabRewards points can still be earned on eligible online and offline transactions, locally and overseas, with the GrabPay Card until May. 31.

All GrabRewards points do not expire, and the points earned before Jun. 1 will only expire six months later.

There will be no impact on the user's GrabPay Wallet balance.

Similar alternatives

In a statement to Mothership, Grab said that they remain committed to serving customers and partners through other financial offerings.

Consumers in Singapore are welcome to apply and waitlist for the account and debit card from GXS, a digital bank by Grab and Singtel.

Those looking for similar alternatives may also consider other e-wallet services that provide digital or physical cards for payment, such as Revolut and YouTrip.

With Revolut, users can top up their e-wallet, which can be used for spending, using a debit or credit card or a linked bank account.

Those who sign up for the free standard account will also get a digital and a physical card, which allows for ATM withdrawals and in-app foreign currency exchange.

YouTrip, which functions similarly to Revolut, also offers exchange rates with zero per cent fees.

Both cards are also compatible with Apple Pay and Google Pay, which can be used to make payments using the user's mobile devices.

Top photo via Grab