Grab launches post-paid option for consumers to pay for services with single bill
Grab, a leading superapp in Southeast Asia, is expanding into digital financial services in Thailand with the launch of “PayLater by Grab”.
Worachat Luxkanalode, country head of Grab Thailand, said at a press conference on Wednesday that the objective of this facility is to provide more payment options for all Grab services in one single bill.
Beginning next month, this post-paid service will provide Grab users with enhanced flexibility, seamless experience and extra benefits across mobility as well as deliveries of food, parcel, and on-demand everyday goods, he said.
"To provide a better experience to our users, we have introduced ‘PayLater by Grab’, starting with the launch of the post-paid service to enable Grab users to pay for all services in one single bill each month,” Worachat said.
The move follows the increasing popularity of digital commerce in the past few years, which have given rise to new digital financial services that can better serve customers' needs.
According to a report by e-Conomy SEA 2022, the total transaction volume of digital payment in Thailand is expected to reach US$113 billion in 2022 and grow by 12% within 2025. One of the fastest-growing services is the “Buy Now, Pay Later” service, which allows customers to manage their expenses more conveniently.
Worachat pointed out that today, almost two-thirds of Grab users choose cashless payment methods, including GrabPay Wallet and debit/credit cards.
He added that the post-paid service under PayLater by Grab has three key advantages:
● Flexibility — users can combine all transactions into one single bill and pay for it the following month;
● Seamless — users can choose the post-paid method before confirming an order across all Grab service applications;
● Extra points — users can earn up to two GrabRewards points for every 16 baht spent on Grab.
Worachat said that the launch of PayLater by Grab is part of the company's efforts to respond to consumer behaviour by providing financial liquidity to Grab users.
He vowed to continue expanding its service offerings in the future to meet the various digital payment needs of both users and partners.