Fave launches BNPL service in Singapore, Malaysia

FavePay Later offers interest-free flexible payments on the Fave app.

Fintech firm Fave is launching its buy now, pay later (BNPL) service in Singapore and Malaysia, an announcement read.

FavePay Later offers interest-free flexible payments on the Fave app. Eligible users will be able to split purchases over three equal, interest-free installments. Repayments will be automatically drawn every month, with no fees charged for on-time payments.

Customers can also earn up to 10% cashback with every purchase.

FavePay Later is available to pay at over 40,000 stores across Singapore and Malaysia, including Pandora, Marks & Spencer, Best Denki, Puma and GNC.

Fave will extend its BNPL service to some of the largest online commerce companies in Southeast Asia within the latter half of 2021, it said.