Grab to partner with Maybank for mobile wallet in Malaysia

FILE PHOTO - People wait for the start of Grab's fifth anniversary news conference in Singapore June 6, 2017. REUTERS/Edgar Su/File Picture

SINGAPORE (Reuters) - Ride-hailing firm Grab will partner with Malayan Banking Bhd (Maybank), Malaysia's biggest bank, to drive the usage and adoption of its GrabPay mobile wallet, the companies said in a statement on Monday.

Grab, which received its e-money license from Bank Negara Malaysia in 2017, is set to launch GrabPay mobile wallet in beta in the coming weeks in Malaysia, it said.

While GrabPay is available in various applications in other countries, Malaysia would become the second market where the wallet can be used to make purchases in restaurants and shops. [nL4N1N81BY]

FILE PHOTO: People take an escalator with Maybank advertisement at a a mall in Kuala Lumpur August 27, 2016. REUTERS/Edgar Su/File Photo

(Reporting by Aradhana Aravindan, Editing by Sherry Jacob-Phillips)