Fave Singapore wins major payment institution license from MAS

The firm has over US$1b in transactions across Southeast Asia and India.

Fintech firm Fave Singapore has obtained in-principle approval from the Monetary Authority of Singapore (MAS) for a major payment institution (MPI) license to offer account issuance, merchant acquisition, and domestic money transfer services.

Operating under the name Beeconomic Singapore and part of the Pine Labs group, Fave has processed more than US$1b in transactions across Southeast Asia and India since it was established in 2016.

The company also helped customers save an estimated US$500m via its loyalty offerings. Fave provides payment and loyalty solutions to businesses, helping them process digital payments, grow their business, and boost customer loyalty and engagement.

Its clients range from small single-store retail outlets to enterprise clients including Harvey Norman, Jollibee and Mary Chia. Fave has also partnered with major banks and bigger financial services companies like DBS Bank, United Overseas Bank and Google Pay.

Follow the link for more news on

Fave

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia