Singapore QR payments firm Fave partners with Pine Labs

Fave's QR code will be integrated with Pine Labs' payment terminals.

Singapore-based QR payments platform Fave has partnered and received investment from India-based merchant platform Pine Labs, according to a news release.

The undisclosed strategic investment in Fave follows from its $20m Series B fundraise in 2018.

Fave’s QR code will now become interoperable and integrated with Pine Labs’ terminals. The former’s merchant payment acceptance and loyalty cashback solutions will expand into both debit and credit cards platforms via Pine Labs’ payment terminals.

Merchants working with Pine Labs in Southeast Asia will also gain access to Fave’s loyalty solutions and reward their customers with cashback. They will also enjoy Payments consolidation and gain access to transparent reporting, payment reconciliation, customer insights and demographic data via access to Fave’s digital dashboard, Favebiz.

Fave’s collaboration Pine Labs is an extension of its ongoing focus on working with major banks, fintech firms and e-wallets in Singapore and Malaysia via SGQR, Paynet and DuitNow QR to bring about customer loyalty solutions to the broader payments ecosystem.