FavePay teams up with Google Pay to offer cashback to Singapore users
Google Pay users can get up to a 20% cashback when they pay through SGQR.
The payment app, Fave, has partnered with Google Pay to offer up to a 20% cashback when they use FavePay SGQR to pay.
Under the partnership, Fave merchants will be able to connect with Google Pay users via the FavePay SGQR and extend loyalty cashback to more customers, reconcile them under one FaveBiz platform along with Fave, DBS PayLah!, and Singtel Dash's digital payment platforms.
“As for our merchants, this partnership helps them capture new businesses while retaining customers as we brave through the uncertainties of the retail landscape together,” said Ng Aik-Phong, regional managing director of Fave Singapore and Malaysia.
Fave’s study found that merchant cashback loyalty has been proven to deliver a positive return on investment. On average, for every S$1 issued in cashback, customers return and spend S$9 again at the same merchant, increasing the customer retention rate and average order value, Fave found.
Google Pay users can now earn up to S$3 for each of their first three FavePay transactions when they use Google Pay to scan SGQR (PayNow QR or FaveQR) to pay a merchant.