Grab, the globally renowned Singapore headquartered ride-hailing firm, is reportedly planning to collaborate with Malayan Banking Bhd, the biggest bank in Malaysia. The partnership is targeted toward encouraging the application & acceptance of Grab’s well-known GrabPay mobile wallet.

The Singapore based firm, which got its license for e-money from Bank Negara Malaysia last year, is predicted to introduce the beta version of its mobile wallet over the next few weeks in Malaysia. Sources claim that through this strategic collaboration and Maybank’s support, Grab’s customers in the country can now use GrabPay at mobile solutions such as GrabPay merchants. Grab’s users are also offered the facility to use the mobile wallet at the main merchants of Maybank.

The key officials of both the firms have claimed that they will bring more merchants into the mobile payments networking system, where merchants can be benefitted through new marketing opportunities from the GrabRewards platform and be able to track the deals via GrabPay. Abdul Farid Alias, the CEO of Maybank Group, has further reiterated that the partnership with Grab was a part of Maybank’s current efforts to offer its end-users with more online conveniences.

Experts view the deal to benefit the customers of both – Grab as well as Maybank in Malaysia. A key official of Maybank has announced that through the partnership, customers will now enjoy a unified experience while making monetary transactions through GrabPay Wallet. The deal is also likely to provide remarkable advantages to both the firms through substantial savings in the long-run.

Though the GrabPay mobile wallet is available in various other applications across different nations, Malaysia is expected to be the second regional market where the mobile wallet can be used by the customers of both the firms to make purchases across shops & restaurants. Reportedly, since August last year, Grab has already extended its service beyond transportation and is focusing on expanding its business across hotels & hawker stalls from November 2017.