Favcy

This article is about the Favcy enCommerce* System. For other uses, see Favcy.com

Favcy World’s First enCommerce* System
Favcy
Motto: “Non Nobis, Sed Omnibus” (Latin) “Not for us alone, but for everyone” [1]

Favcy, officially the first enCommerce* System is a company incorporated currently in India.

Favcy is based on the premise of Non Nobis, Sed Omnibus which translates as “Not for us alone, but for everyone”.

Favcy is an attempt to segue the Promotion and Ad money that goes to the mediums (read as Facebook, Google, Newspapers etc) into the hands of the users directly. This philosophy of Favcy is translated through their Motto - Non Nobis, Sed Omnibus : Not for us alone, but for everyone.

The user is the new medium of transaction and the promotion money, therefore is transferred to them.

Etymology: Favcy as a name is a portmanteau for Favourite Currency System. Although not a currency system, all Engagement Points that the Brands or Developers provide follow the simple premise of most engaged communities deserve a better rate of return on engagement ⁽²⁾.

Based on the Engagement Rates, the Brand Engagement Point or simply Engagement Point receives a convertible value in real currency terms of that country.

For example if Brand X has a more engaged community than Brand Y, then the Cash Advance received by a User on Brand X is more than what they would have received for a similar unit of redemption on Brand Y.

Cash Advance is kept in the Favcy escrow as commission received for a purchase that the user is about to make. Once the purchase is done, cash advance is transferred to the User into his/her bank account or into any other synced wallet.

The user can then implicitly thank the brand with which it engaged to earn those brand points. (disambiguation)

History Favcy’s idea loosely came from Uber’s Credit system which is actually a semi enCommerce* system in itself. The user for referral engagement with Uber can actually earn credits, which Uber then honors.

With Favcy’s enCommerce* system, all brands and developers can set up any engagement that they want to reward and user can directly benefit by engaging.

Also to be noted is that, Favcy is not post sales as that would mean that the engagement point can be earned only post a purchase and that would defeat the whole premise of ‘Non Nobis, Sed Omnibus’.

Favcy got investment support from Grow India Capital.

FC Pune City and Kerala Blasters were the first two brands to sign up the ‘Non Nobis, Sed Omnibus’ Charter of Favcy in its current form.