Singapore-based startup, Perx, is a cool, new way to save money while shopping. Perx, in essence, is a “loyalty program on your mobile,” according to the company’s website. The Perx app lets you collect rewards and “chops” from your favorite merchants all in one place.

Launched in October 2011, the free Perx app is currently available for both iPhone and Android. After downloading the Perx app on a mobile device, users can then begin collecting “chops.” All they have to do is scan a QR code provided by the merchant when checking out, and soon enough they’ll be collecting chops and earning rewards. As an added bonus, there is also a “Perx wheel” that users can spin to get instant prizes.

In May 2012, Perx had 40,000 registered users and about 400 partner merchants, according to SG Entrepreneurs. Perx is a direct response to daily deals sites, which attract bargain hunters but struggle to build true customer loyalty.

Participating merchants include Subway, Happy Lemon, Salad Stop, Red Mango, Dunkin Donuts and Hot Tomato, among many others. Ninety percent of the Perx partner merchants are food or beverage related, according to Asia CNET. Merchants pay to partner with Perx, but in return they get help with rethinking loyalty.

Perx was founded by Andrew Roth and Jon Sugihara, who first partnered to create PLAYHawaii.com, a popular group buying site in Hawaii, which was later sold to Crowdsavings.com. Perx is currently backed by Eduardo Severin, the co-founder of Facebook.

Perx may expand to Malaysia and Australia and is in full operation in Singapore. The company is also working to partner with POS clients to print QR codes on receipts rather than slowing down the line at the register while the customers wait to scan the merchant’s QR code. Experiments with “sponsored chops”—extra chops from one merchant that are paid for by another merchant—are also underway.