FavePay (Singapore)
Country: Singapore (SG) | Payment Rail: digital_wallet
DigitalWallet
Market Adoption: 40%
FavePay is a popular Singapore QR and cashback wallet platform integrated into offline retail and dining merchants.
🔄 User Payment Flow
- Customer scans merchant FavePay QR code using Fave app
- Customer enters bill amount and selects cashback voucher
- FavePay clears transaction and credits instant partner merchant cashback
- Merchant receives immediate payment advice
⚙️ Characteristics & Settlement
| Instant Payment | YES |
| Supports QR | YES |
| Supports Recurring | NO |
| Supports Refund | YES |
🛠️ Merchant Integration Steps
- Merchant POS or online gateway generates FavePay payment session
- PSP issues payment token and QR payload
- PSP receives FavePay clearing webhook notification
🚀 Supported Payment Gateways & Acquirers (PSPs)
🔌 Adyen