Fave has launched its Buy Now, Pay Later (BNPL) service in Malaysia and Singapore. Usable at 40,000 stores across both countries, the service is now available on the Fave app on iOS, with an Android release coming in July 2021.
Similar to other BNPL services present in Malaysia, FavePay Later allows users to split their purchases over three equal, interest-free instalments that are to be paid monthly – though the first is paid at the moment of purchase. But it seems to be unique (so far) in offering consumers up to 10% cashback for every purchase.
“Our customers care about flexibility, convenience and rewards. FavePay Later is built with these customer needs in mind, and it leverages our consumers’ trust in the Fave brand,” said Fave CEO Joel Neoh.
The service is usable at all Fave merchants in Malaysia and Singapore today, including marquee brands in popular retail verticals such as Pandora, Marks & Spencer, Best Denki, Puma, GNC and more.
Fave, which was previously known as Groupon Malaysia, is expanding aggressively after being acquired by Indian merchant commerce platform Pine Labs for RM185 million (~US$45 million) earlier in the year. The former currently operates in 35 cities across Malaysia, Singapore, and Indonesia, and plans to launch in India later this year.
For more information about FavePay later, you can visit this webpage.
(Source: Fave. Images: Fave.)