Favspot ties up with DBS Bank and local merchants

Each transaction will share in a pool of US$64,200 worth of cash rebates from DBS. “For example, if 10,000 transactions are carried out during this promotional period, each transaction will receive a rebate of US$0.64 (HK$5),” explained president of Favspot, Wendy Yu.

The location-based platform, owned by Tom Group, has also signed promotional deals with popular local hospitality providers including the Lan Kwai Fong Group, Maxim Group. Triple O’s Burger, Pacific Coffee. Also on board are Butao Noodle, Tai Cheong Bakery, Honeymoon Dessert, Hung Fook Tong Herbal Tea & Soup, with the company saying more are in the pipeline.

The promotions will be rolled out in mid-July when Favspot, via a partnership with 3HK and ESD Life, will send location-based SMS weekly to smartphone users. The messages will alert users to nearby retail outlets with specific promotions.

To obtain the free promotional items, users will have to save the location on Favespot and show the entry to the participating merchant.

Launched just a month ago, Favspot strives to differentiate itself by being more tied to reviews than ‘checking-in’ to every locale you visit. Favspot encourages users to only save and post locations of shops and eateries that they like, focusing rewards on consumers who have paid for a product or service.

The app, which is available for Android smartphones as well as the iPhone, also acts as a personal diary for users who opt to keep their favourite locations private.