Malaysia picks GrabPay, two others for $109m digital payments initiative

Malaysia picks GrabPay, two others for $109m digital payments initiative

A passenger sits next to Grab corner sign as he waits for a Grab bike. REUTERS/Beawiharta

Malaysia’s sovereign wealth fund Khazanah Nasional Bhd announced Friday that the federal government has selected three e-wallet service providers for the implementation of the 450-million ringgit ($109 million) e-Tunai Rakyat Initiative.