by Fintech News Malaysia
October 4, 2018
Grab and Fave announced a strategic partnership for both parties to grow the respective platforms across the region. The partnership is aimed at capitalising on Grab’s user base of over 110 million downloads and Fave’s strong merchant network of over 5,000 acceptance points.
Starting this week, Fave’s 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 will be able to spend their GrabPay balance at thousands of restaurants & retailers in the Fave network, and also on the deals available on Fave.
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.
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.
Rueben Lai, Managing Director of Grab Financial also stated that the will soon increase the number of integrations to GrabPlatform, which will allow more partners to tap into Grab’s ecosystem.