Singapore-based food delivery and payment solutions firm Grab has entered a strategic partnership with Malaysian online delivery firm Fave to accelerate growth across South East Asia.
The deal will integrate Fave’s broad merchant network and FaveDeals platform with Grab’s user base and ecosystem.
Fave’s merchant sales team will work collaboratively to add merchants for GrabFood and GrabPay in Singapore and Malaysia from this week to enhance growth for food delivery platforms and mobile wallet services, reported Focus Malaysia.
Fave will also integrate its platform with GrabPay mobile wallet enabling customers to pay using the wallet at thousands of restaurants across its network. The integration is done through GrabPlatform.
Grab Financial senior managing director Reuben Lai was quoted by the news website as saying: “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 South-East Asia as a strategic partner.
“As the region’s leading fintech platform, we will increasingly offer integrations through GrabPlatform. This allows more local and global partners to tap into previously untapped consumers and grows the Grab ecosystem as an everyday app.”
Furthermore, both the companies are planning to find ways to assist small and medium-sized companies in growing their business with a focus on integrating more services on both platforms such as FaveDeals platform, GrabPay’s QR code payments service and GrabRewards’ loyalty programme.