With the recent nerfs in interest rates from banks and other offerings in the world of personal finance, it’s unsurprising to see the discontinuation of the once-great GrabPay card.
If you’re a GrabPay card holder, here’s all you need to know about what will happen leading up to the discontinuation date of 1 June 2024!
GrabPay Card Discontinued From 1 June 2024
From 1 June 2024, users can no longer make online or offline transactions with their digital or physical GrabPay Card.
New applications for the card have already been suspended since 1 April 2024. However, existing users can still request a replacement for the physical card until 30 April. and those who have yet to activate a physical GrabPay Card can do so until 31 May.
You can continue earning GrabRewards points with all eligible online and in-store transactions, both locally and overseas, until 31 May 2024.
Furthermore, there will be no impact on users’ GrabPay Wallet balance.
What Is The GrabPay Card?
In case you didn’t know, the GrabPay card was launched in Singapore back in December 2019 as the first numberless card for enhanced security. Card details are stored in the app and protected by biometric safety features.
The biggest draw then was the ability to double dip on card rewards with the GrabRewards points system.
What Happened to The GrabPay Card?
According to Grab’s announcement, they have observed much higher adoption and use of other Grab offerings (such as PayLater by Grab, GrabPay Wallet) that better cater to the needs of their users. As a result, they are concentrating their efforts on refining these products to provide an even better user experience.
“We thank our customers for their support of GrabPay Card over the last few years, and remain committed to serving our customers and partners through other financial offerings on the platform,” the company said.