Fave launches FavePay in Indonesia
By Yunnie Marzuki December 22, 2017
- Has seen revenue triple in Bandung and Surabaya from April to December
- In 2017, Fave made available more than 2,500 offers from 1,700 merchants
AFTER launching its mobile payment feature in Malaysia and Singapore, Fave launched FavePay in Indonesia recently.
FavePay is not just about offering a convenient way for users to pay on their platform, it also ties in with rewards or discounts in the form of cashback or points that they can redeem on their next visit, thus generating returning customers for participating merchants.
“We are very excited with the launch of FavePay. With FavePay, customers will be able to enjoy cashback from our merchants, to be used with that same merchant.
“With the cashback, customers will be able to purchase their favourite items at a much lower price. This in return, will support our merchants in customer retention. The more you shop, the more you save. And it is easy to use. Fave will continue to innovate to provide convenience for our customers, on top of the great offers,” said Fave Indonesia general manager Yew Wai Kong (pic, above).
Users can simply order food or drink, take out the Fave app, scan the QR code, proceed to pay and show the receipt to the cashier to complete the transaction.
He tells Digital News Asia (DNA) that user growth of FavePay in Malaysia and Singapore has tripled and quadrupled since it first launched.
“Because of this success in Malaysia and Singapore, we want to try this in Indonesia too, but these countries are different in terms of credit and debit card penetration.”
In the future, Fave will work with more e-wallet players to expand the use of FavePay.
At the same event, Fave also announces its business updates for 2017 in Indonesia which showed a positive growing trend.
Since it acquired Groupon at the beginning of the year, Fave has continued to grow positively in Indonesia. Fave has seen strong consecutive gross merchandise volume (GMV) growth in the previous four months, with a 50% increase in monthly active users and triple the total number of downloads to 450,000.
Fave also strengthened its position in other major cities in Indonesia, namely Bandung, Surabaya and Bali.
Bandung and Surabaya have seen tremendous growth by tripling sales revenue while Bali has seen a growth of more than 400 F&B merchant outlets participating on Fave between April and December 2017.
“We have achieved great things in 2017, both globally and in Indonesia. In 2018, we are aiming to provide better offers for our customers while supporting local businesses in Indonesia as it is an important market for us.
“Fave will continue to innovate new ways and provide our customers in Indonesia with new and exciting offers to enrich their daily lives. In addition, we will always provide unique online shopping experiences for our customers,” adds Yew.
Fave’s focus for Indonesia is to always present exciting offers that involve the best merchants from local and international businesses in various categories, organise exciting campaigns and collaborations.
Yew says that Fave will continue to strengthen its presence in other major cities in Indonesia, as well as explore strategic partnerships with key industry players in Indonesia; ranging from telecom operators, banks, and other e-commerce players.
“Strategic partnerships are very important for us because we can help merchants to build more traffic and they can help us to pull in new users.”
Throughout the year, Fave has provided more than 2,500 offers from 1,700 merchants to be enjoyed by Indonesian customers.
Looking ahead, Yew is confident that Fave will continue to strengthen its position as a consumer app in the F&B category across Indonesia while partnering with the biggest names across various categories, such as Timezone, Krispy Kreme, Pizza Marzano, PEPeNERO, Royce', Häagen-Dazs, Amaroossa, Jittlada and others. The breadth of partners will allow it to fulfill its strategy of providing added value for its customers.