GRAB and deals platform Fave have formed a strategic partnership as they look to boost their growth throughout the ASEAN region. Fave, which formerly was Groupon Singapore, will bring onboard merchants for GrabPay and GrabFood from this week in Singapore and Malaysia, as a part of the alliance.
Credible sources informed that Fave would be adding the GrabPay mobile wallet to its platform later in October, allowing Fave customers to use their GrabPay credits at retailers and restaurants on Fave’s network, as well as for Fave deals. Users would be able to spend their credits for different categories on Fave, while benefitting from the cashbacks and discounts.
Joel Neoh, founder of Fave, explained the advantages this partnership would have for merchants. He said by providing the GrabPay wallet on the Fave platform, merchants will experience increased customer traffic immediately, from million of Grab platform users every day.
Apparently, the integration of GrabPay wallet with Fave’s platform was achieved via GrabPlatform, a suite of APIs that enable Grab’s partners to access various components of its technology like logistics and payments. The Grab-Fave integration is said to be the first of its kind for a partner app for GrabPlatform.
Grab and Fave have committed themselves towards exploring ways for helping small and medium-sized enterprises grow. They will be focusing on incorporating more services on both platforms, including GrabPay’s QR code payments service, the GrabRewards loyalty programme and FaveDeals.
Senior managing director for Grab Financial, Reuben Lai said a collaborative approach was required for helping the region go cashless, which the company can achieve by working with Fave as a strategic partner. With Grab being the region’s foremost fintech platform, the company will offer more integrations via GrabPlatform to allow increased number of local and global partners to reach previously untapped consumers, Lai added.