Leading Southeast Asian fintech entity, Fave, has announced a strategic collaboration with global affiliate marketing heavyweight, Involve Asia. This new alliance is further boosted by the involvement of FindShare, a prominent cashback and rewards program platform provider based in the Philippines. The fusion of these three powerhouses is set to significantly widen Fave’s merchant network, providing a broader array of shopping options to Fave users in Singapore and Malaysia.
Bringing Popular Brands and Greater Savings to Fave Users
The joint venture marks the inclusion of renowned brands like Adidas, Agoda, Decathlon, AirAsia, Lazada, and Klook in categories spanning retail, travel, and e-commerce. As a result, customers can now enjoy cashback rewards with every purchase made through Fave’s affiliate merchant program. Accumulated cashback can subsequently be utilized across FavePay, Fave Deals, and Fave eCards merchants, incentivising regular use and customer loyalty.
Voices from the Partnership
Chen Chow Yeoh, Co-founder of Fave, emphasized the importance of rewarding consumers in the digital era, especially in Southeast Asia where younger demographics are driving the digital economy. “Involve Asia’s expertise in affiliate marketing and its vast network of publishers and influencers will help empower customers to save with loyalty programmes. We want our customers to reap the benefits of greater savings through their use of the Fave app,” he stated.
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Reward-Based Payment Transactions Gaining Momentum in Southeast Asia
Over the past few years, consumers in Southeast Asia have increasingly incorporated rewards, commissions, and deals into their everyday lifestyle. The trend is set to continue with the S&P Global Market Intelligence estimates projecting an impressive 14% compound annual growth rate (CAGR) for aggregate cashless retail payments in Southeast Asia, with a potential market value of $3.02 trillion by 2025.
A Vision for Unparalleled Customer Experiences
Reflecting on the partnership, JC Lam, Vice President of Partnerships at Involve Asia, discussed the shared commitment to delivering high-quality customer experiences, “Our collaboration with Fave is rooted in a shared commitment to delivering unparalleled customer experiences, as we enter the next wave of digital innovation. By leveraging Fave’s customer engagement solutions and Involve Asia’s performance-driven marketing strategies, we can help these brands create personalised and compelling experiences that resonate with their target audiences.”
Fave’s Expanding Footprint in the Direct-to-Consumer Space
Fave continues to be a key player in the region’s direct-to-consumer sector. Their innovative product offerings including deals, discounts, and cashback services enable customers to save through QR payments and loyalty programs on both the Fave app and other major banks and digital wallets, including DBS PayLah!, UOB TMRW, Singtel Dash, Google Pay, and Touch ’n Go Digital. Fave currently operates in Singapore, Malaysia, and India, with ambitions to further their reach in the digital landscape.
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