Since its launch in 2016, Fave has processed over US$1 billion ($1.35 billion) in transactions across Southeast Asia and India.
Fave Singapore has received an in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) licence to offer account issuance, merchant acquisition and domestic money transfer services.
Operating under the registered entity name Beeconomic Singapore, the in-principle approval marks a significant milestone for Fave Singapore. It previously participated in MAS’s SGQR+ Proof of Concept to enhance interoperability for QR payments.
