Even though credit card adoption is mature in Singapore, demand to defer or split payments—especially among younger consumers—has continued, and BNPL has found a niche alongside cards. GrabPay PayLater is a pay-later and installment feature built into the super-app Grab account; unlike standalone BNPL services, it works on top of Grab's existing user base without requiring a separate app install or new sign-up. It operates within an environment governed by Singapore's BNPL industry code of conduct.

This is a good fit for businesses looking to raise average order value by offering a pay-later option to customers who already use GrabPay. For example, a Korean online store selling beauty, fashion, or home-living products in the roughly 100,000-won range to Singaporean consumers could see lower cart abandonment as installments ease the payment burden. Consumer repayment risk is borne by Grab.

When a consumer selects PayLater at checkout, they choose a pay-later or installment repayment method in the Grab app to approve the transaction, and from the merchant's perspective, the sale is confirmed at the moment of approval. From there, Grab manages consumer repayment, while the merchant's share of the funds is generated in SGD, received by Hecto Financial, and converted and settled in whichever contracted currency—USD, KRW, or JPY—was chosen.

Korean corporations can consider accepting GrabPay PayLater through integration with Hecto Financial, though BNPL methods may be subject to stricter industry and product-category screening than wallet payments. Actual availability, along with the settlement cycle, fees, and currency options, needs to be confirmed with the sales team before signing a contract.

• Business registration country

  Confirm contract eligibility for businesses registered in Korea

• Sales channel

  The integration method differs depending on whether sales are online-only or also include physical stores in Singapore

• Product categories

  Check in advance whether your business falls under a category restricted by GrabPay PayLater's merchant policies

• Local regulatory compliance

  Confirm compliance with Singapore's payment and foreign exchange regulations (see official sources below)

Merchant settlement does not wait for the consumer's installment repayment to be completed. The SGD amount confirmed at the time of approval is received locally by Hecto Financial, converted, and paid to the Korean merchant in whichever contracted currency—USD, KRW, or JPY—was chosen. The settlement cycle and fees follow the contract terms; because of the nature of BNPL, a refund also triggers cancellation of the consumer's repayment schedule, which can take longer to finalize than a standard refund.

• Monetary Authority of Singapore (MAS)Official information on Singapore's payment systems and related regulations. Official sources take precedence if they differ from the content on this page.