Fave and Grab, two of the leading O2O platforms in Southeast Asia, today announced a strategic partnership to accelerate growth for both platforms across the region.
The partnership combines the strengths of Fave’s broad merchant network as well as its FaveDeals platform, with Grab’s large user base and growing ecosystem.
Starting this week, Fave’s best-in-class merchant sales team, will onboard merchants for GrabFood and GrabPay in Singapore and Malaysia.
This will further accelerate the growth of respectively the fastest growing food delivery and mobile wallet services in these countries.
Later in October, Fave will expand its platform with GrabPay mobile wallet.
Aside from credit card or debit card, Fave customers can now spend their GrabPay balance at thousands of restaurants & retailers in the Fave network, and also on the tens of thousands of deals available on Fave.
From food & beverage to beauty, massage, fitness, travel, and attractions, users can spend their credits across multiple categories and enjoy discounts and cashback.
As a result, Fave merchants will now be able to benefit from Grab’s ASEAN-wide customer base of more than 110 million app downloads.
The integration of the GrabPay wallet was done through GrabPlatform, a suite of APIs that enables partners to access components of Grab’s technology like logistics and payments.
This is the first of its kind integration in a partner app for the Grab Platform and underlines the appeal of Grab’s user base and Southeast Asia’s largest distribution channels.
“We’ve always believed that in order for the region to go cashless, we would need a collaborative approach and are happy we can now count Fave, one of the fastest growing O2O platform in Southeast Asia as a strategic partner.
“As the region’s leading fintech platform, we will increasingly offer integrations through GrabPlatform.
“This allows more local and global partners to tap into previously untapped consumers and grows the Grab ecosystem as an everyday app,” said Reuben Lai, Senior Managing Director, Grab Financial.
“This collaboration with Grab provides a valuable win-win situation for both merchants and consumers.
“By providing GrabPay wallet as a payment option on the Fave platform, our merchants will immediately benefit from additional customer traffic from the millions of people who use the Grab platform daily.
“For customers, we have just made life easier for paying at our Fave merchants by partnering with the leading mobile wallet in the region,” said Joel Neoh, Founder of Fave.
The two partners are exploring additional ways to collaborate and help small & medium-sized enterprises grow their business.
Further collaborative efforts will be focused on integrating more services on both platforms, including FaveDeals, Fave’s deals, and cashback platform, GrabPay’s QR code payments service and GrabRewards’ loyalty programme.