Fave offers DuitNow QR Code

KUALA LUMPUR, Aug 4 -- Fave is offering DuitNow QR that enables customers to use a single preferred QR code to make payments at 20,000 restaurants and retailers nationwide via the Fave app or other digital wallets and mobile banking apps.

In a statement today, the leading financial technology (fintech) platform said the FavePay DuitNow QR would enable merchants to accept payments from all users of 32 participating banks and e-wallets in the DuitNow ecosystem.

“We are seeing a surge in cashless transactions and this is an opportunity for greater nationwide user adoption as more Malaysians are abstaining from paying with physical currencies due to COVID-19 and the Movement Control Order (MCO),” said Fave Group founder Joel Neoh.

He said that the new FavePay DuitNow QR code and the FavePay Later allow users to enjoy savings, discounts and interest-free payments that is unique to Fave's platform.

Additionally, FavePay users would be able to reap rewards from merchants, earn up to 15 per cent in cashbacks and opt for interest-free flexible payments with FavePay Later.

The fintech firm will also be democratising payments by partnering and integrating with DuitNow QR to offer Fave's cashback loyalty and ‘buy now, pay later’ solutions to their users soon.

“As most Malaysians have embraced the use of smartphones, with internet users reaching a high of 88.7 per cent last year, contactless tap-and-pay transactions are projected to increase by three-fold in Malaysia over the next few years with Fave’s entry into the DuitNow QR ecosystem,” added Fave. 

-- BERNAMA