Digital merchant platform Fave has launched Fave Takeaway in Singapore, a feature that allows its customers to order meals on the go, make payment via FavePay, and collect their orders at participating stores through the Fave app.
Photo credit: Fave
Participating merchants include Paul, Wafuken, Menya Musashi, Ajisen, Tokidon, Isaac Toast, BBQ Box, Tuk Tuk Cha, and Chicken Up.
With the new service, Fave users will be able to enjoy cashback and rewards offerings.
“As the government continues to push for a digital and seamless economy, Fave is helping small- and medium-sized businesses adapt to the new landscape and in a more cost-effective way by giving them the tools to enable them to serve their customers in the best and efficient way possible,” Joel Neoh, co-founder and CEO of Fave, said.
“The introduction of Takeaway is our way of enabling that our merchants get the most out of the platform by increasing productivity and revenue.”
Fave said the launches of both Table Ordering and Takeaway services this year mark their intent and ambition to become a super app.
See also: Fave starts series C process in its bid to become the leading super app for merchants
The firm is taking on Southeast Asia’s internet economy, which is set to soar to US$100 billion in 2019, more than tripling in size over the last four years, according to Google, Temasek, and Bain & Company.
Fave also cited that the food and beverage sector currently contributes to 0.8% of Singapore’s GDP. And as of July 2019, it has a total value of S$877 million (US$640 million), with no signs of slowing down, even as other industries, such as the retail sector, face a decline in sales this year. The F&B sector is set to grow at a 2.1% compound annual growth rate in the next five years.
Fave, which currently operates in 35 cities across Malaysia, Singapore, and Indonesia, claims it has helped SMEs to grow their revenue by over US$280 million.
Currency converted from Singapore dollars to US dollars: US$1 = S$1.37.
Editing by Charmaine de Lazo
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