Fave Arzumy MD, Chief Technical Officer of Fave.
It goes without saying that everybody loves a good deal. And for most people, Fave (formerly KFit) has grown to become the go-to place for discounts, especially after its recent acquisition of Groupon Malaysia. But as we found out from Arzumy MD, the Chie
What does Fave stand to gain from its recent acquisition of Groupon Malaysia?
Since acquiring Groupon Malaysia, we have successfully integrated the business with our Fave platforms in Malaysia. As a result of the integration, we now have more than three million subscribers in Malaysia, and over 1,700 merchants. Not to mention, because some of us were previously from the Groupon business, we were also very familiar with their operations, which made the integration that much easier. With AWS as our cloud provider, we completed the migration with no issues, and were able to scale the instances based on our traffic patterns.
Groupon and the whole concept of daily deals haven’t been doing particularly well in recent years. Do you think the softer demand for discount vouchers will be a challenge for Fave moving forward?
It’s about understanding the needs of our stakeholders, which are merchants and consumers. From a merchant’s point of view, they want to acquire new customers, retain them, and reactivate their non-active customers. And we believe that through our Fave platform and proprietary tools, we are the best partner for merchant to achieve those goals. For consumers, it is all about finding the right deal, at the right time, at the right price, and that is what we aim to be. In Malaysia, Groupon was the leading deals and discounts platform for many years. So for us, we definitely benefited from their existing popularity, but it is definitely about expanding beyond just deals and discounts.
How is Fave staving off and staying ahead of its competitors (e.g. Offpeak and eatigo)?
We have introduced many new features that were not previously available. For instance, we now have ‘Nearby’, which allows our users to find the closest restaurants and services around them via the app. Besides that, we also have made our redemption process very much easier. Rather than printing a physical voucher, we have introduced mobile redemption.
With e-payment options (like Samsung Pay, iPay88) now becoming more mainstream, do you have plans to team up with others to offer more diverse payment options?
I’m happy to introduce to you, FavePay. FavePay is our latest feature that will allow customers to pay via their mobile phone. It’s safe, simple, and fast. Customers simply need to take out their phone, scan the QR code at the restaurant or search for their name, key in the amount, and click pay.
What’s next for Fave?
Fave aims to help local businesses succeed. We started as a small Malaysian company ourselves, and now we are a company of close to 200 employees with over three million subscribers in Malaysia alone. We won’t stop here, and we will continue to work closely with local businesses across Malaysia and the region to help them grow. We truly believe that local businesses are the backbone of the economy, and technology is the next step for them to help them become more successful.