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GrabPay MasterCard Debit Card: Extend Acceptance of Your GrabPay Wallet and Take Advantage of Complimentary Insurance

GrabPay MasterCard Debit Card: Extend Acceptance of Your GrabPay Wallet and Take Advantage of Complimentary Insurance

Pros

  • Consumers who want to use their GrabPay Wallet for a wider variety of purchases
  • Individuals who want to earn GrabRewards points with every purchase
  • People who want to have insurance for their online purchases and mobile phone

Cons

  • Consumers who do not use the Grab App
  • People who want miles perks or cash back rewards not related to the GrabRewards program
  • People who want to spend their points for rewards outside southeast Asia and Pacific

If you are a regular user of the Grab App and want to boost the acceptance of your GrabPay Wallet, the GrabPay prepaid MasterCard might be perfect for you. Once you integrate your debit card into your Grab App, your GrabPay Wallet becomes universally accepted by over 1 million shops and restaurants around the world that partner with MasterCard. In particular, this card will earn up to 4x GrabPoints per S$1 of spending, which is roughly equivalent to about 0.8% in rebate.

Furthermore, every online purchase of up to $200 that is paid for using the GrabPay MasterCard is automatically insured against non-delivery and damages. In addition, your mobile phone is covered in case of accidental damage or theft.

ProsCons
  • No annual fees
  • Easy to integrate into the Grab App and to use for Grab services, so no need to carry the card
  • Up to 4x GrabRewards points on all spending when using Grab App or GrabPay Mastercard
  • Highest possible earning rate for GrabRewards points (4x)
  • Easy application process through the app, and no income requirement or approval process
  • Free insurance covering internet purchases of up to $200 and mobile phone damages and theft up to $600
  • Best suited only for Grab App users
  • No additional perks, rewards and rebates other than GrabRewards
  • Discounts and vouchers are almost exclusively for southeast Asia
  • Insurance has low annual aggregate limits for claims ($200 for online purchases and $1,000 for mobile phone damages/theft)
  • Insurance limits are in USD, meaning exchange rate changes impact your limit

What Makes GrabPay MasterCard Stand Out

The GrabPay MasterCard has an incredibly easy application process. It does not require any paperwork since the application is done in-app. The approval process is instant and has no minimum income requirement. The card automatically becomes the preferred method of payment for Grab in-app purchases and services, and is easy to integrate into your GrabPay Wallet.

Improved GrabRewards Benefits

The GrabPay MasterCard is also the most effective way to collect GrabRewards points, which can be spent on vouchers and discounts on a variety of things ranging from travel deals to entertainment. The points you collect also help you break into higher membership tiers that qualify you for additional perks such as additional discounts for airport lounges and dining as well as a dedicated platinum Grab customer service. Every $S1 you spend with you GrabPay MasterCard gets points at a rate up to 4x higher than usual. This is the highest earnings rate that is otherwise limited to those who reached platinum status in the GrabRewards program.

Membership TiersCashCardGrabPay
Member022
Silver022
Gold033
Platinum044

You earn points for every S$1 you spend using the GrabPay Wallet or the physical GrabPay MasterCard. You can spend those points on a variety of rewards such vouchers, discounts and gifts on purchases. Using GrabPay or the GrabPay card, you receive up to 4 points per S$1 spent depending on your membership tier. Given the value of the points calculated from the rewards below, your rewards have a value of 0.8% of your spending.

ProductGrabRewards PointsVoucher ValueValue Per Point (S$)
Starbucks1,500S$30.002
Cedele2,500S$50.002
Lazard5,000S$100.002
Apple AirPods Pro189,500S$3790.002

Additionally, through the higher earning rate, it becomes pretty easy to reach and maintain higher status that are otherwise very difficult to achieve. The points earned can be used to get vouchers and discounts on everyday purchases like food & beverages, entertainment and travel deals. You can select rewards out of a catalogue of more than 800 offers, which are, however, mostly redeemable at partners in southeast Asia.

In addition to the rewards, you can advance through Grab’s membership tiers that result in additional perks, such as preferential rates on Booking.com, airport lounges and dining

You advance into a higher membership tier for 6 months during which the status needs to be maintained by earning enough points. Grab's reward program also offers a fairly unique way to earn additional rewards in the form of occasional challenges, such as spending targets. However, most of these challenges don't offer a significant boost over your normal rewards rate.

On top of the GrabRewards program you can link your card to Samsung Pay and earn up to 30 Samsung Rewards points per transaction.

Insurance for Your Purchases and Your Phone

Additionally, the GrabPay MasterCard includes automatic insurance coverage on all online purchases that are made using the card. This insurance also covers non-delivery or incomplete delivery of purchased items within 30 days of scheduled delivery, as well as damages or improper functioning of delivered items that have been purchased using the GrabPay MasterCard.

Unfortunately, this protection is limited to $200 per occurrence and per year. This means that if you use the insurance once for an item that’s worth $200, you can’t use it again for the rest of the year. You also need to be aware that the limits are in USD and claims are converted using the published exchange rate of the day the claim was filed.

Mobile phone insurance is also part of GrabPay MasterCard's insurance feature. It covers accidental damages as well as theft up to an amount of $600 per occurrence and an annual limit of $1,000.

This type of insurance protection is usually only a feature of more costly credit cards and pretty uncommon for debit cards with no annual fee. If you're interested in free protection of your phone and online purchases, this is a great opportunity.

Increased Security

For those interested in data protection and security, the GrabPay MasterCard offers unique security features. Unlike almost all other credit and debit cards, the GrabPay MasterCard is a numberless credit card, which means that if it’s lost or stolen it is almost impossible to use it.

This card also has other security features such as instant push notifications on your phone when the card is being charged, the ability to lock your card through the app, and lastly, a GrabPIN authentication for secure online payments.

GrabPay MasterCard’s Features and Benefits

Annual feeNone
Minimum income requirementNone
Rewards rate details
  • Accelerated 4x earnings rate on every S$1 spent (equivalent to 0.8%)
  • Can be used for a variety of vouchers and discounts
  • Multiple membership tiers that can easily be reached through the accelerated rate
Benefits and perksFree insurance for online purchases and your mobile phone
Additional features
  • Enhanced security features that protect you from fraud
  • Simple and quick application and approval process through the Grab app
  • Automatic integration into the GrabPay Wallet
  • Ability to track spending and top-up your GrabPay Wallet through the app
Zoryana Melesh

Zoryana is a Senior Research Analyst at ValueChampion, who focuses on evaluating credit cards, savings and fixed deposits in Singapore. She holds a BA in Political Science and an MPA in International Finance and Economic Policy, both from Columbia University. Prior to joining ValueChampion, Zoryana worked in treasury management consulting.

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