FavePay Later
BNPLBNPL inside Fave: 3 interest-free instalments, cashback
Fees
| FPX (online banking) | — |
|---|---|
| Card (local credit/debit) | — |
| E-wallet | — |
| DuitNow QR | — |
| BNPL | 1.5% |
| Setup fee | RM0 |
| Monthly / annual fee | RM0 |
| Minimum transaction | — |
| Settlement | Contact sales |
Features
- No-code (links/forms)✓
- Developer API—
- Recurring / subscription—
FavePay Later is the Buy Now Pay Later feature built into the Fave app, letting eligible users split purchases into 3 equal, interest-free monthly instalments across Fave’s network of merchants in Malaysia and Singapore. Customers can also earn up to 10% cashback.
For merchants, Fave charges a “Fave Fee” (commission) on each transaction. In Malaysia this is 1.5% by default, reduced to 1% if the merchant activates a cashback rate of 10% or higher, plus 6% SST charged on top. This rate is explicitly “subject to contract”. Note this is the general FavePay merchant commission; Fave does not separately publish a distinct FavePay Later MDR, so the 1.5% figure is indicative for the BNPL channel.
The fee is what the business pays Fave, not the shopper’s instalment cost (which is interest-free if paid on time). FavePay Later is enabled through the FaveBiz merchant platform/app rather than a developer API.