Southeast Asia focused ride-hailing service Grab has teamed up with Malaysian lender Maybank to drive the adoption of its mobile wallet GrabPay in Malaysia.

The move, which is subject to regulatory approvals, will enable Grab users to use GrabPay at Maybank’s key merchants and allow Maybank customers to make payments through Maybank QRPay at GrabPay merchants.

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The tie-up will also allow consumers to directly top-up cash to their mobile wallet through Maybank’s internet banking portal Maybank2U.

Grab and Maybank plan to add more merchants to the mobile payments network.

GrabPay managing director for Singapore, Malaysia and Philippines Ooi Huey Tyng said: “We are honoured to partner with Maybank which not only shares our vision of a cashless payments future, but also recognises Grab as ideally poised to help make this a reality.

“With GrabPay mobile wallet as the leading payment method on our Grab app, it will build an interconnected ecosystem of our services, thus making Grab an everyday app to complement consumers’ everyday lifestyle.”

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Maybank group president and CEO Abdul Farid Alias added: “With this partnership, our customers will not only enjoy a seamless experience when transacting through GrabPay but also a host of exclusive benefits that would reward them with substantial savings in the long run.”

Grab secured Malaysian central bank’s licence to offer GrabPay in the country in December 2017. The ride-hailing company plans to launch a beta version of GrabPay in the coming weeks.