Fave E-Voucher Platform Presents FavePay Electronic Wallet Service

Fave, a discount e-voucher sales platform, announced the presence of an electronic wallet service called FavePay that users can use to pay for transactions on the Fave platform with QR code scanning technology.

This electronic wallet is also Fave's effort to provide added value for loyal customers, because every transaction earns points and chatback which can be used on merchant favorites. For the time being, FavePay can only accept payments with the source of funds coming from credit cards.

FavePay has actually been presented first for users in Malaysia and Singapore. Indonesia followed with its inaugural launch in Bali on November 15, 2017.

"With FavePay, customers can enjoy cashback from merchant to use in merchant the same one. We will also continue to innovate to provide convenience for our customers by providing the best offers," said General Manager of Fave Indonesia Yew Wai Kong, Wednesday (13/12).

Fave . performance and business plan

In addition to announcing the electronic wallet service, his party also announced the performance that Fave had achieved this year. In the last four months, monthly active users (MAU) increased by 50% with the number of downloads tripled. Fave has also strengthened its position by expanding to other big cities, namely Bandung, Surabaya, and Bali.

Merchant Fave's in Bandung and Surabaya showed remarkable revenue growth with a 3-fold increase in sales. Merchant who are incorporated in Bali are also claimed to be growing rapidly. There are currently more than 400 F&B merchants joining Fave.

So far this year, Fave has provided more than 5.500 offers from 1.700 merchant throughout Indonesia.

For next year's plans, Yew is committed to continuing to strengthen its position as the number one consumer application in the F&B category. How to partner with big brands and local industries, such as Time Zone, Krispy Kreme, Pizza Marzano, and others.

"We have achieved many great and interesting things this year. Next year we are targeting to provide better offers, products and services for customers," concluded Yew.