Fave will no longer accept American Express cards as a payment method beginning 3 March 2020. This will affect all Fave users which includes both Fave Deals and the FavePay e-wallet.
In an email sent to Fave users who have Amex cards saved as a payment method, the company did not state why it was removing support for Amex. Instead, it outlined the other payment methods currently supported:
Greetings from Fave and hope you have had a great 2020 thus far!
You are receiving this email as you are currently using AMEX as a payment method on Fave. Effective 3rd March 2020, Fave will no longer be accepting AMEX as a payment mode.
To continue enjoying the convenience of Fave, you can choose to switch to the following today:
(i) Credit or Debit Cards (Visa/Mastercard)
(ii) Boost e-Wallet
(iii) Online Banking (Applicable for Fave Deals transaction only)
You can access the payment options page through the Fave App > Me > My Payments.
If you have any questions or concerns, please feel free to reach out to us at [email protected] or via live chat from the Fave app or website, and our Customer Happiness team will be more than happy to assist.
Thank you for your kind support and we hope that you have a nice day!
A quick check at Fave’s FAQ page also revealed that its payment methods page has been updated earlier today, removing Amex from its list of supported credit and debit card issuers.
This upcoming revision will significantly impact local American Express cardholders. Since you can pay for FavePay and Fave Deals with any Amex card, this indirectly increased the merchant base that “accepts” Amex cards by a considerable amount, allowing cardholders to enjoy benefits at places that they otherwise would not.
Maybank 2 cardholders will feel the pinch more than others, as their Amex cards are among the best in the market: the Maybank 2 Gold & Platinum Amex cards offer 5% weekend cashback on almost anything, while the Maybank 2 American Express Reserve (part of the Maybank 2 Premier cards) earns air miles at an accelerated rate of 1 air mile for every RM1 spent.
You can technically still use your Amex card with Fave, by topping up your Boost e-wallet with Amex, and then linking Boost with Fave as the default payment method. But with Boost top ups not eligible for any card benefits from Maybank, this is practically useless – you’re better off triple-dipping benefits by using a different card for Boost top ups.