GrabPay Pushes Back InstaPay Transfer Fee to Augustby Fintech News Philippines July 20, 2022
Southeast Asia ride hailing superapp Grab announced via an app advisory that it will delay charging additional fees for InstaPay transactions until August 8 this year.
InstaPay is a real-time electronic payments system that had recently been designated as a Prominently Important Payment System (PIPS) by the the Bangko Sentral ng Pilipinas (BSP).
The app advisory added that a fee of PHP15 will be charged on InstaPay transactions made from GrabPay to other banks and e-wallets.
However, the transfers between GrabPay e-wallets will continue to be free of charge.