Malaysian payment services provider GHL Systems Berhad (GHL) has expanded its partnership with Grab Malaysia, rolling out PayLater by Grab for its in-store merchants.

GHL said in a statement on Monday that PayLater by Grab gives consumers the flexibility of making payment in the following month or in four monthly instalments, with 0 percent interest.

GHL first announced the enablement of PayLater back in 2021 for online merchants.

Current GHL merchants include All IT Hypermarket, Afterspring International, Thunder Match Technology, Astro GS Shop and many more.

Through this expanded partnership with Grab Malaysia, merchants using GHL’s terminals can now offer their shoppers more payment options when making purchases in physical stores.

“We’re excited to partner with Grab Malaysia to extend PayLater to our in-store merchants. We believe that this offering is able to empower both the merchant and consumer, especially in this post-pandemic time with expectations of increased foot traffic,

“By enabling PayLater, consumers can stay on top of their budget and gain greater purchasing power, while driving sales for merchants,” said GHL Malaysia’s Chief Executive Officer Kevin Lee.

Amidst the gradual recovery in consumer spending following the reopening of borders and removal of travel restrictions last year, GHL opined that a frictionless and flexible payment experience is crucial to improve customer experience.

Coming on board as a launch partner, GHL merchant and one of the leading consumer electronics retailer, Senheng group, has enabled more than 100 Senheng and senQ outlets in Malaysia to accept flexible payments via Paylater by Grab offering flexible payments to their loyal customer base of 3.57 million.

“In an increasingly digitalised society, the consistent demand for consumer electronics will continue to grow,

“Our expanded range of payment modes including the Buy Now Pay Later (BNPL) option for our customers will help support affordability amidst rising inflation and interest rates, as well as boost our brand as an omnichannel retailer,” said Lim Kim Heng, the Executive Chairman of Senheng.

Grab Malaysia’s Payments, e-Commerce, and Insurance head Lim Tien Ming said this partnership with GHL is timely as consumers are now more open to buying now and paying later (BNPL).

“In fact, a recent report highlights that BNPL payment adoption is expected to grow steadily, recording a compound annual growth rate of 35.4% during 2022-2028,

“Therefore, PayLater encompasses this and is a natural progression in our evolution of vast financial offerings through our platform as it provides more flexibility and encourages shoppers to shop responsibly,” he added.

GHL merchants in Malaysia offering PayLater by Grab include Senheng, Natural Health Farm, Foto Shangri-La, MU Optic, Yes Optical and other small and medium-sized enterprise (SME) merchants.

Consumers can earn GrabRewards for every PayLater transaction, which allows them to enjoy more benefits and savings on Grab’s platform.

GHL is an ASEAN’s payment solutions provider reach spans across six countries; Malaysia, Philippines, Thailand, Indonesia, Singapore and Australia – stretching over a vast footprint of over 402,400 payment touchpoints across the region.

The firm is the leading payment acquirer in ASEAN for over 100 global and regional payment schemes and channels, processing over MYR1.5 billion ($320 million) payment transactions per month.

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