It’s not even been a month since Grab announced the beta-testing trial for its GXBank digital banking platform and the ride-sharing and public-hailing turned fintech platform provider subtly revealed upcoming plans for an upcoming physical debit card for its digital banking service.
While key details are not available, what is certain are the following that Grab put up on the new GXBank Debit Card web-portal:
- The new debit card will launch with a virtualised version at the same time
- There is 1% cashback, with no count limit and no maximum cap, for every payment transaction made with the debit card — either physical or virtual
- ATM withdrawals will also enjoy this 1% cashback feature
- The virtual debit card can be used immediately while the physical card is being processed and issued
- Going by the visual, the debit card might be launching with MasterCard as a payment network partner
- A RM1 waiver for withdrawals at all MEPS ATMs across the country will also be applied at launch
- GXBank will not impose any additional fees for overseas transactions
Right now, those keen on signing up for a GXBank account can download the mobile app and register to join the waitlist. Those that have successfully opened an account on Grab’s new digital banking platform are part of an ongoing beta-test programme.
More details about GXBank, its debit card, and upcoming offerings can be found at its dedicated web-portal.