Grab, the Southeast Asian super-app, has become part of everyday urban infrastructure in the Philippines through ride-hailing and food delivery, and the GrabPay wallet built into the app is a method users are already comfortable topping up and paying with. As the payment habits of Philippine consumers, once cash-centric, shift toward wallets, GrabPay occupies the position of the second wallet after GCash, and thanks to the lock-in effect tied to GrabRewards points, it sees high usage frequency among younger urban consumers.

This is well suited to businesses with a large customer base in major cities such as Manila and Cebu and a delivery, lifestyle, or online-service character, or for merchants expanding into multiple Southeast Asian countries at once who find it difficult to integrate a separate wallet for each country. Being able to cover neighboring countries where Grab operates using the same method is also an advantage.

At checkout, the consumer is taken to the Grab app to authorize payment from their GrabPay balance or a linked card, and QR scanning is also supported. The result is communicated to the merchant immediately upon authorization, and Hecto Financial receives the proceeds in PHP. After a currency conversion process, settlement with the Korean merchant is made in whichever of USD, KRW, or JPY is specified in the contract.

Hecto Financial provides an integration that lets Korean merchants accept GrabPay without a separate negotiation with Grab. The conditions for expanding to other Grab-served countries beyond the Philippines, industry restrictions, and fees can be confirmed through consultation.

• Country of business registration

  Confirm contract eligibility as a business registered in Korea

• Sales channel

  The integration method differs depending on whether the business is online-only or also includes physical stores in the Philippines

• Product category

  Advance confirmation is needed as to whether the category falls under merchant restrictions set by GrabPay's operator

• Local regulatory compliance

  Confirmation is needed as to whether the business complies with the Philippines' payment and foreign exchange regulations (see official sources below)

GrabPay payment proceeds are received by Hecto Financial in Philippine peso and then go through a currency conversion process, with settlement to the merchant executed in whichever of USD, KRW, or JPY was selected in the contract. The settlement cycle and fee rate are determined individually according to the contract terms. When a refund occurs, the funds are typically returned to the customer's GrabPay wallet, and it's recommended to confirm the timing of the refund and the exchange rate applied before signing the contract.

• Bangko Sentral ng Pilipinas (BSP)Official information on the Philippines' payment systems and related regulations. If there is any discrepancy between this page and the actual regulations, the official source takes precedence.