This article first appeared in The Edge Financial Daily on November 28, 2019

KUALA LUMPUR: Revenue Group Bhd has partnered with Grab Malaysia to enable its in-application (in-app) GrabPay’s mobile QR payment to be made available at all its merchant payment touchpoints.

The ACE Market-listed cashless payment solutions provider said in a statement yesterday that the partnership will enable GrabPay e-wallet users to have wider and quicker access to Revenue’s 20,000 touchpoints throughout Malaysia.

Revenue managing director cum group chief executive officer Eddie Ng Chee Siong said the partnership with Grab Malaysia caters to the increase in mobile QR payment usage in Malaysia.

“This is part of Revenue’s strategy to enable its merchant base with a wide range of payment solutions which currently stands at more than three types of payment schemes,” he said.

Revenue said it expects the strategic collaboration with Grab Malaysia to help drive its electronic transaction processing segment moving forward as it is set to gain from the electronic transaction processing fee.

GrabPay Malaysia, Singapore and the Philippines managing director Ooi Huey Tyng said through this collaboration, its users will now be able to make cashless payments seamlessly at an increasing number of merchants and everyday brands — all on a single platform that they are already accustomed to.

Revenue shares were unchanged at RM1.76 at yesterday’s close, valuing the group at RM411.22 million. In the past 12 months, the stock has gained over 34%.