Through this product launch, the company will be providing over 6 million Fave users with instant access to interest-free credit to be used at over 40,000 stores as a pilot. The service is available on the Fave app for iOS users as of 28 June 2021, followed by an Android release in July 2021.
Eligible Fave users will be able to split purchases over three equal, interest-free instalments. Repayments will be automatically drawn every month, with no fees charged for on-time payments. In addition, customers will earn up to 10% cashback with every purchase. FavePay Later is available at all Fave merchants in Singapore and Malaysia, including marquee brands in popular retail verticals such Pandora, Marks & Spencer, Best Denki, Puma, GNC, and more.
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