GrabPay Philippines Enables Instant Fund Transfers with InstaPayby Fintech News Philippines July 14, 2020
GrabPay announced today the introduction of instant fund transfers in the Philippines within its e-wallet. This new feature is made possible thanks InstaPay, an initiative from Bangko Sentral ng Pilipinas (BSP) to enable payment interoperability.
The introduction of this feature enables its users to instantly and conveniently transfer funds from BSP-supervised banks and e-wallets to their GrabPay account, connecting more digital channels and eliminating the need to physically go to payment centers.
With the rising need for cashless solutions brought by the COVID-19 pandemic, GrabPay said this is part of its continued efforts to double down on providing cashless convenience and safer payments to more Filipinos.
Most recently it introduced its fully digital GrabPay card in the Philippines to expand online payments within and outside the Grab app.
“We are constantly looking for ways to improve our services to stay true to our commitment of providing Filipinos safer and convenient ways to perform digital transactions. Building trust by connecting more digital channels and giving flexibility to move around funds help us break barriers in providing hassle-free transactions for our users. We are glad to be doing this with InstaPay with the oversight of Bangko Sentral ng Pilipinas (BSP),”
said Jonny Bates, Head of GrabPay Philippines.
This article first appeared on fintechnews.sg