Singaporeans' guide to maximising points and rewards using GrabPay

Since its launch in 2016, GrabPay has evolved from an e-wallet with basic payment features to a popular payment option in Singapore.

Just last year, Grab launched the GrabPay mastercard, providing users with more options to make payment using their GrabPay wallet at merchants that accepts mastercard cards.

On the other hand, GrabRewards was unveiled in end-2016, rewarding Grab users with points when they take regular Grab rides, which has since expanded to include GrabPay payments, where users can earn GrabReward points, just like other credit and debit cards in the market.

Following Grab’s announcement of its revamp on GrabRewards programme back in January 2020, it saw a devaluation of its points across transactions, and removal of the issuance of points for cash transactions.

However, what remains unchanged is that you can still continue maximising the opportunity to earn points and cash rebates across all platforms with GrabPay. In addition, you will get to climb through the membership tiers, earning more points for every dollar charged on the GrabPay wallet or mastercard.

In this article, we explain how can you maximise the opportunity to maximise points and cashbacks with GrabPay in three ways.

1. Using selected credit cards to top up your GrabPay wallet

Previously, credit card issuers were rather liberal when it comes to issuing points or cash rebates for topping up of e-wallets using their credit cards, including GrabPay.

In addition, some card issuers have tied up with Grab in giving additional rebates or miles for every top up in GrabPay.

For instance, UOB One Credit Card offered its cardholders an additional 5per cent cash rebate for GrabPay top ups, while American Express’ KrisFlyer cardholders get to enjoy additional 2 KrisFlyer miles for every $1 spent on Grab Singapore transactions.

These promotions, however, have come to an abrupt end in March. This follow numerous card issuers’ decision to exclude GrabPay top ups towards the eligibility for earning points or rebates.

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That said, there are some cards that continue to award points or miles for GrabPay top ups. Some of these cards include:

HSBC Advance Credit Card: Depending on your monthly spend and your status as a customer of HSBC Advance banking client, you can get a cash rebate between 1.5 per cent and 3.5 per cent. For instance, if you do not reach a spending of $2000 or more a month, you will get 1.5 per cent cash rebate.

Otherwise, you will get 2.5 per cent cash rebate if you spend above the amount. HSBC Advance banking customers get an additional 1 per cent rebate on top of the aforementioned rebate.

American Express True Cashback Card: True Cashback Card awards cardholders with 1.5 per cent cash rebate off their spend on card, regardless of the monthly spending.

DBS Altitude Card: Every $1 spent locally on DBS Altitude Visa Card will net the cardholder 1.2 miles, which will be earned through DBS Points. The miles can be converted at a rate of 1 DBS Point to 2 miles.

If you are holding to these cards, do take advantage of earning miles or rebates while you can.

In this way, you are able to leverage on earning the points from your usual credit card and through GrabPay transactions.

2. Use GrabPay for your daily expenses

What is the use of topping up your GrabPay account without utilising your GrabPay wallets?

That is why you should maximise the use of your credits in your GrabPay wallet and GrabPay Mastercard for daily spending, which allows you to earn GrabRewards Points.

With more points earned, you will be able to progress up the membership tier to Gold or Platinum, allowing you to earn 3 or 4 GrabRewards points respectively for every dollar charged to your GrabPay wallet or Mastercard.

However, do take note that certain transactions do not qualify for GrabReward points:

Transactions made via GrabPay wallet:

• Peer-to-peer transfers
• Money transfers
• Banks or third-party mobile wallets
• Investment or brokerage platforms
• Remittance service providers
• Billing services and bill aggregators such as AXS
• EZ-link card top-ups
• Top-up of cards with multiple currency accounts, such as YouTrip, Revolut and TransferWise

Transactions made via GrabPay card:

• PayPal transactions
• EZ-Link App
• Public Transport (Bus/MRT)
• POI Funding Transactions such as Stripe
• Security Brokers/Dealers
• Miscellaneous personal services
• Financial Services
• Insurance (except for any insurance plans purchased on Grab)
• Wire Transfer
• Business services not elsewhere classified
• Money Send/Money Send intercountry
• ATM Withdrawals

3. Linking your GrabPay account to Fave app

Besides using your GrabPay wallet or mastercard at merchants, you can also maximise the potential of earning additional cashback by linking your GrabPay account to the Fave app.

This “triple-dipping” approach not only allows you to earn points or cashback from your credit card (via topping up of your GrabPay card), you will also be able to earn GrabRewards points and cashback on your FavePay transactions.

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Currently, FavePay is accepted at over 600 partner merchants across Singapore, such as food and beverages, beauty and entertainment joints, and this includes food courts where credit cards are not accepted.

While the devaluation of GrabRewards has caused a stir, the ability to double-dip (or even triple-dip) is still attractive as it seems.

Also, by charging more on your GrabPay wallet/mastercard, not only will you get to earn more points for every dollar spent, you will also get to enjoy privileges, such as discounts at airport lounges and restaurants, to priority booking for your rides.