Malaysian fintech powerhouse, Fave, is pushing the envelope in consumer savings by joining forces with affiliate marketing giant, Involve Asia. This exciting partnership aims to extend the reach of Fave’s merchant network for its users in Singapore and Malaysia, enabling them to garner more savings on transactions made through the platform.
This collaboration comes to fruition through the aid of Philippines-based rewards and cashback program platform, FindShare. The union of these platforms introduces acclaimed brands including Adidas, AirAsia, and Decathlon along with a range of retail, travel, and eCommerce categories on Klook into Fave’s merchant portfolio.
Fave’s co-founder, Chen Chow Yeoh, recognizes the pivotal role of young consumers in propelling Southeast Asia’s digital economy today. “Rewards and cashback systems hold a universal appeal across all demographics. Involve Asia, with its proficiency in affiliate marketing and its comprehensive network of publishers and influencers, will allow us to reinforce our customer loyalty programs,” Yeoh said.
Fave’s unique business model enables its customers to receive cashback with every purchase via its affiliate merchant programme. Accumulated cashback can then be used across various merchants on FavePay, Fave Deals, and Fave eCards.
JC Lam, vice president of Partnerships at Involve Asia, expressed the shared objective with Fave to provide superior customer experiences in this evolving digital era. “Our collaboration is based on a mutual ambition to deliver matchless customer experiences, and by leveraging Fave’s customer engagement strategies and our performance-driven marketing tactics, we can help brands create personalized experiences that resonate with their target audiences,” Lam stated.
The collaboration also addresses the growing demand of Southeast Asian consumers for rewards, commissions, and deals as integral parts of their daily life. According to S&P Global Market Intelligence, cashless retail payments in Southeast Asia are estimated to surge at a 14% CAGR, reaching $3.02 trillion in 2025.
In other news, FavePay Later’s head, Audra Pakalnyte, departed from the Malaysian fintech platform after eight years of service, as she revealed on her LinkedIn page. Pakalnyte, one of the company’s first employees, witnessed its transformation from a modest startup to a fintech unicorn.
In her goodbye message, Pakalnyte shared, “As the first employee, I’ve seen the company evolve from zero to one, from humble beginnings to a part of a fintech unicorn. From pivoting KFit to Fave, orchestrating strategic acquisitions of Groupon, and ultimately the sale of the company to Pine Labs.
This news is based on an article by Marketing Interactive