What is Fave Guarantee Fee?
Fave Guarantee is a guaranteed support for a worry-free experience for customers when purchasing Fave deals. Fave Guarantee will not affect merchants in any way as the 2.9% is incurred on the customer.
Fave Guarantee covers these areas below;
Customers will receive a 3 - day period (from date of purchase) to make a free cancellation from customer's end to get a full refund
If a merchant goes out of business, customer is entitled to receive 100% refund of the voucher(s) purchased
Fave guarantees that all payments are processed using quality, highly secure payment service providers, assuring customers that all their information is safe while shopping with Fave!
Fave guarantees that customers will receive customer support from our Customer Happiness Team 365 days a year. This is available via live chat through the Help Center on customer's Fave app, website or email at firstname.lastname@example.org.
The Fave Guarantee Fee will be stated on the customer checkout page before confirmation of Fave Deals purchased. A sample is below.
How much is Fave Guarantee?
The Fave Guarantee is a 2.9% fee applied on top of a voucher's selling price. The Fave Guarantee fee is also refundable when a customer's voucher is cancelled from their end within 3 days from the purchase date.
How does Fave Guarantee affect us?
Fave Guarantee will not affect merchants in any way as the 2.9% is incurred on the customer. The fee will not be captured in your Statement of Accounts, hence, you will experience zero changes to your payments.
However, customers will be able to see the selling price of your FaveDeal inclusive of the 2.9% on the Fave app**. However as a merchant, you can carry on with validating all the FaveDeal redemptions as usual - the pricing shown on Favebiz will remain the price you have set.
** Only applicable for deals in Singapore Platform. Selling price for FaveDeal showed in Malaysia Platform will remain the same as exclusive of the 2.9%.
** Fave is required to include the 2.9% Guarantee Fee in the selling price of Singapore FaveDeal as to comply with the Guidelines of Price Transparency developed by Competition and Consumer Commission of Singapore (CCCS)