The O2O platform has also onboarded GrabPay and GrabFood merchants

Fave and Grab have inked a strategic partnership that will see the former onboard GrabFood and GrabPay merchants in Singapore and Malaysia.

In addition, Fave customers will be able to use their GrabPay credits for merchants in the Fave network later this month. These include retail categories such as food & beverage to beauty, massage, fitness, travel, and attractions.

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 move is significant as it will give Grab to a huge boost in transactions for its delivery and payment service; last month, Fave said it had a user base of over 3 million consumers.

For Fave merchants, they will likely see their businesses grow as a result of Grab’s ASEAN-wide customer base of more than 110 million app downloads.

Grab and Fave’s new alliance seems to signify that, in the increasingly competitive space of cashless payments, collaborative actions, instead of escalating the rivalry by one-upping each other through more perks or rewards or by even cutting merchant fees, appears to be the more sustainable forward.

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“We’ve always believed that in order for the region to go cashless, we would need a collaborative approach and are happy we can now count Fave, one of the fastest growing O2O platform in Southeast Asia as a strategic partner. As the region’s leading fintech platform, we will increasingly offer integrations through GrabPlatform,” said Reuben Lai, Senior Managing Director, Grab Financial.

“This allows more local and global partners to tap into previously untapped consumers and grows the Grab ecosystem as an everyday app.”

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.

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Image Credit: Fave

 

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