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The Complete GrabPay Guide for Singapore Merchants

Woman online shopping with GrabPay.

In a study that spanned several years, iPrice found that GrabPay Singapore has been the country’s favorite e-wallet since 2017. So, it’s understandable that many residents in the Lion City prefer to do their online shopping with GrabPay.

Offering a selection of payment options is always a good business practice for online retailers. Whether you plan to keep your online store or want to take your business global by targeting an international audience, it’s always helpful to use the local payment methods that are most popular in your target markets. For retailers based in Singapore, offering GrabPay can help convert local shoppers.

To help you understand GrabPay, we will explore how the GrabPay for merchants system works, how to use it with your online store, and whether there are any GrabPay merchant fees.

What is GrabPay?

Grabpay Singapore is a payment system and e-wallet created by Grab. For consumers, GrabPay is specifically a digital wallet that they can link to their credit or debit card or store credit so that they can make payments online and through the Grab app on their phone. For online retailers, GrabPay allows you to accept digital payments using one of Singapore’s preferred payment methods.

Why Should I Use GrabPay

There are many GrabPay Singapore users in the country. That should be incentive enough for Singapore-based e-retailers to use the payment system on their online store. If you need more encouragement, though, here are a few other reasons to use GrabPay for merchants:

  • Popularity: Grab has over 115 million customers in Southeast Asia; many do their online shopping with GrabPay.
  • Safety: Customers have to authenticate every payment, and the dispute process doesn’t allow for automatic chargebacks and refunds.
  • Rewards: You can offer your customers GrabRewards, which can encourage conversions and sales on your online store.
  • Cost-effectiveness: GrabPay merchant fees are usually less than those of other e-payment solutions.
  • Ease of use: GrabPay’s seamless system makes checking out easy for your customers—and easier checkouts can help with conversions.

How Does GrabPay Work?

GrabPay Singapore allows customers to quickly and safely pay for online purchases. For retailers, the system is an easy way to handle online payments, whether they’re just starting their entrepreneurial journey or are running an established online store with high-volume sales.

To use GrabPay for merchants, you only need to integrate the system with your online store to begin receiving payments. You can then manage your GrabPay account, sales, and transactions through the app or online portal. All payments made through GrabPay will be sent to your bank account by the end of each working day; you will receive email notifications for this.

When online shopping with GrabPay, customers simply click the “Pay with GrabPay” button during checkout. This will redirect them to the Grabpay website, where they enter their phone number; the system will then send a one-time password to verify the transaction and complete the purchase.

Of course, once you’ve registered, you can expect to incur some GrabPay merchant fees. All retailers using GrabPay for merchants will need to pay a 1% fee on all transactions, as well as the 7% GST that is legally required.

Currently, GrabPay is only available in Singapore and Malaysia. As such, you have to be based in one of these two countries to use the system. In Singapore, the system only supports transactions in the local currency, the Singapore Dollar. You should note, too, that GrabPay sets limits on its transactions. GrabPay Basic customers can only pay SG$1,000 one time, up to an annual limit of SG$5,000; Premium customers can make transactions of up to SG$5,000, with an annual limit of SG$30,000. For this reason, GrabPay may be better suited to retailers who do not deal in high-value goods.

Setting up GrabPay Singapore

Integrating GrabPay Singapore with your online store is usually quite simple, and the company offers a lot of help for those that are new to GrabPay for merchants.

How to become a GrabPay Singapore Merchant

  1. Apply to be a GrabPay Online Merchant—you will need to provide your contact details, your business’s name and website, which markets you operate in, and how much money your business processes.
  2. A customer service representative will contact you—you may need to provide additional information and documents.
  3. You will then receive an email to inform you whether your application has been approved.
  4. A GrabPay Singapore integration manager will take you through the process of setting up GrabPay on your website or app.
  5. Once the integration is set up, download the GrabPay Merchant app from the app store on your smartphone.
  6. Log in to the app using the credentials provided to begin managing your GrabPay Merchant account.

GrabPay for Merchants allows you to download up-to-date transaction reports.

FAQs - GrabPay Singapore

Does GrabPay offer merchant support?

Yes, it does. The Grab website has a help center that answers a wide range of frequently asked questions. You can also access GrabPay merchant support by email at merchantsupport.sg@grab.com.

Is GrabPay really safe?

Yes. Grab prioritizes safe transactions for customers and merchants. That’s why the system encrypts all transactions and uses 24-hour automatic fraud detection.

How do I receive payments?

GrabPay settles all payments to your bank account at the end of every working day. You will receive email notifications when your daily transactions have been processed.

Can I use QR codes with GrabPay?

Technically, GrabPay merchants can use QR codes. There is a catch, though—QR codes can only be used in physical stores, and retailers with physical stores have to register separately from online merchants. So, unfortunately, this option is not available to ecommerce retailers.

Convert Singaporean Shoppers with GrabPay

With GrabPay Singapore, you can rest assured that you’re giving your Singaporean customers one of the safest and easiest ways to make payments on your online store. Although Shopify offers integrations with numerous payment providers—and has its own easy-to-use Shopify Payments—GrabPay is one option that will resonate strongly with your local customers.