Fave, Southeast Asia’s smart payment app, has announced a partnership with Google Pay, Google’s digital payments app that supports online and in-store purchases. Through the partnership with Fave, users of Google Pay can now scan any FavePay SGQR, and earn up to 20 per cent cashback across 15,000 F&B outlets and retailers which include Subway, Food Republic, Food Junction, BreadTalk, Puma and more.
The partnership reinforces the alignment between Fave’s and Google Pay’s visions in providing a seamless mode of payment while rewarding a new generation of savvy consumers in their day-to-day transactions. Merchants will now be able to connect with Google Pay users via the FavePay SGQR and will be able to extend their loyalty cashback to more customers, reconcile them under one FaveBiz platform along with Fave, DBS PayLah!, and Singtel Dash’s digital payment platforms.
Ng Aik-Phong, Regional Managing Director of Fave Singapore and Malaysia, shared, “We strive to create more value for every transaction for all Singaporeans, while creating memorable shopping experiences with their favourite, or new and popular merchants. Partnering with Google Pay is one more step for us in making every digital transaction rewarding, allowing customers to use their choice of payment app and to stack up rewards.”
“As for our merchants, this partnership helps them capture new businesses while retaining customers as we brave through the uncertainties of the retail landscape together,” added Aik-Phong.
Based on Fave’s data, merchant cashback loyalty has been proven to deliver a positive return on investment. On average, for every S$1 issued in cashback, customers return and spend S$9 again at the same merchant, increasing the customer retention rate and average order value.
Patrick Teo, Director of Engineering for Google Pay shared, “Google Pay offers users a simple, secure, and helpful payments experience and rewards users with fun scratch cards that provide cashback and merchant discounts. Our partnership with Fave extends our support for local businesses by enabling Fave merchants to reward their loyal customers and attract new customers. Google Pay users on Android and iOS can now pay Fave merchants directly through the app using PayNow and receive additional rewards.”
Google Pay is currently available in 40 countries. Users can link their bank accounts to the Google Pay app and pay directly from their bank account. OCBC, DBS PayLah and Standard Chartered bank accounts are supported today. Users can also add a credit or debit card to their Google Pay app, which will enable their card for contactless purchases.
The partnership with Google Pay adds to Fave’s growing network of partners, including DBS PayLah! and Singtel Dash. Fave has also helped customers save over US$400 million (S$544 million) to date through Fave’s loyalty programme and other offerings. Fave is set to onboard more digital payment partners and e-commerce platforms to provide integrated value-added services to merchants and customers, as it strives to become the region’s smart payment app of choice for consumers to save and have flexible payment options. Fave recently introduced its “Buy Now Pay Later” interest-free payment instalment option allowing consumers to earn cashback at the same time.
Google Pay users can now earn up to S$3 for each of their first three FavePay transactions when they use Google Pay to scan SGQR (PayNow QR or FaveQR) to pay a merchant. More about Fave rewards on Google Pay: https://bit.ly/fave-gpay