Grab customers can now Grab services first before paying for them without interest through the launch of the PayLater feature.
The feature covers GrabCar, GrabFood, GrabMart, and GrabExpress, where users can pay for these services as a monthly bill.
According to Erwin Yamsuan, Head of Grab Financial Services in the Philippines, the PayLater feature aims to assist users amid the pandemic, allowing them to better plan their finances and manage their cash flow. As a bonus, it also enables customers to earn points for every avail of services that can be exchanged for rewards.
Top tier and long-time Grab users who often use the app are qualified to subscribe to the said feature, which can be found as a payment option within the app.
The PayLater bills are generated on the 1st and 15th of the month with 7 days allowance to settle. Users are only required to pay a processing fee of 3.99% for every consolidated bill with 0% interest.
Users can track the transactions by going to the PayLater sections and tap the “View Details” option, displaying their current spending total, available balance, and transaction history. They can also toggle notifications to remind them of payment before the due date. Fees will be top with 3.99% if the total bill is overdue.
Information about the new feature can be found here.