Miguel Cordon · · 1 min readShopBack rolls out BNPL service in SG, Malaysia amid global refresh
ShopBack, a Singapore-based rewards platform, has launched a buy now, pay later offering alongside its global brand refresh efforts.
Photo credit: ShopBack
The company said that ShopBack PayLater marks its latest move into providing more financial services to the over 30 million shoppers across Asia Pacific who use its platform.
The feature will be available for purchases at over 4,000 online and in-store merchants in Singapore and Malaysia, including Zalora, Charles & Keith, and Shiseido. ShopBack PayLater integrates the services of Hoolah – which ShopBack acquired last year – and allows purchases to be split into three interest-free monthly installments.
ShopBack also said that cashback earned through its platform can be used to offset PayLater payments. “This makes ShopBack an optimal space for enabling rewarding shopping experiences while encouraging financial mindfulness,” commented Hamish Moline, the company’s managing director of financial services.
The rewards platform concurrently announced its global rebranding, focusing on tightly knitting its cashback, vouchers, payments, BNPL, and market offerings together. It also plans to bolster its product offerings and extend its financial services to more markets in the following months.
ShopBack said that the effort follows the company driving about US$3.5 billion in sales to 10,000 merchants in 2021. The firm raised US$80 million in a pre-IPO round earlier this year.
Editing by Lorenzo Kyle Subido
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