FaveBiz is a digital merchant platform that enables businesses to accept various cashless payment methods while implementing customer loyalty programs through cashback incentives. The platform enhances marketing reach and provides real-time business analytics, helping merchants retain up to 70% of their customers and increase sales during non-peak hours.
Funding
Funding not disclosed
PLFounders
Product
Problem
Many small and medium-sized businesses (SMBs) in Southeast Asia struggle to adopt digital payment methods and lack effective tools for customer loyalty and marketing. This limits their ability to compete with larger businesses and adapt to changing consumer preferences for cashless transactions and personalized offers.
Solution
FaveBiz is a merchant platform that enables businesses to accept a wide range of cashless payment options, including mobile payments and e-wallets, both online and in-store. It provides tools to implement customer loyalty programs using cashback incentives, helping merchants increase customer retention and drive repeat business. The platform also offers marketing tools to expand reach to millions of active users and real-time business analytics to monitor performance and understand customer behavior.
Target Audience
The primary target audience includes small to medium-sized businesses (SMBs) in the food and beverage, retail, beauty and wellness, travel, and services industries across Malaysia, Singapore, and Indonesia.
Features
- QR code-based payment acceptance for various e-wallets and mobile payment methods
- Customizable cashback loyalty programs to reward repeat customers
- Marketing tools to create and manage deals and promotions
- Real-time sales and transaction tracking
- Customer insights and analytics reports
- Digital e-card creation and management
- Integration with the Fave consumer app to reach a large user base
- Secure payment processing to protect businesses and customers from fraud