Wallets/shopback
ShopBack
0 standards supported
Overview
ShopBack is Singapore-headquartered Southeast Asia cashback + PayLater + ShopBack Pay platform [1, 2, [global-cro]]. 40+ million users across 11 markets (Singapore + Malaysia + Indonesia + Philippines + Thailand + Vietnam + Taiwan + Australia + Korea + Germany + India).
Singapore baseline: 2.1-2.5+ million Singaporean users (over half of SG online-shoppers).
ShopBack PayLater + Pay (2025) [3]:
- Distinctive cashback + BNPL bundling: Existing ShopBack users can offset PayLater bills with available Cashback — rewards-and-payments integration.
- Hoolah acquisition: BNPL provider consolidation example.
2025 caveat [4]: ShopBack ends BNPL service in Singapore + Malaysia by 22 March 2025 — strategic shift away from BNPL while retaining ShopBack Pay cashback core.
Singapore BNPL macro (2025) [3]: >$1.32 billion BNPL market in 2025; projected $1.94B by 2030 — Singapore's BNPL ecosystem features ShopBack PayLater (now ended SG+MY Mar 2025) + Atome + Grab PayLater + Pace + LatitudePay + SeaMoney + Ablr + Rely + Octifi.
History
2014 — ShopBack founded [1] in Singapore by Henry Chan + Joel Leong + others.
2015-2020 — SEA + Australia expansion [2]: 11 markets (SG + MY + ID + PH + TH + VN + TW + AU + KR + DE + IN).
2021-2022 — Hoolah BNPL acquisition [3]: BNPL consolidation entry.
2022-2024 — ShopBack PayLater + Pay launch + 40M+ user mark.
March 22, 2025 — ShopBack ends BNPL in SG + MY [4]: Strategic shift; retains ShopBack Pay cashback core.
Ownership & operator
Operating entity: ShopBack Pte. Ltd. (Singapore-headquartered).
Co-founders: Henry Chan (CEO) + Joel Leong + Caroline Chan + Bryan Chua + Yvonne Chia + Lucas Ngoo + Karena Belin (collaborators).
Major investors: Temasek + Soros Fund Management + Asia Partners Fund Management + Singtel Innov8 + Credit Suisse + Rakuten Ventures + EV Growth + others.
Regulators: MAS (Singapore) + per-country (multiple SEA + Australia ASIC + Korea + Germany + India RBI).
Technical integration
| Layer | Description |
|---|---|
| Channels | ShopBack mobile app (iOS + Android) + browser extension |
| Identifiers | Phone + email + card number |
| SG rails | [[paynow]] + sgqr (MAS national instant payment + national QR) |
| Sub-products | ShopBack Cashback + ShopBack Pay (in-store + online) + ShopBack PayLater (ENDED SG + MY March 22, 2025) + ShopBack Vouchers |
| Coverage | 11 markets across SEA + Australia + Korea + Germany + India |
| Distinctive | Cashback + BNPL bundling — PayLater bills offsettable with Cashback (pre-Mar 2025 SG+MY end) |
| License | Per-country payment services + payment acceptance |
Users & growth
2025 baseline [2]:
- Total SEA + global users: 40+ million across 11 markets
- Singapore: 2.1-2.5+ million (over half of SG online-shoppers)
- March 22, 2025: ShopBack ends BNPL in SG + MY (strategic shift; retains ShopBack Pay cashback)
- Hoolah BNPL acquisition (consolidation example)
Use cases
SEA + Australia + Korea + Germany + India cashback shopping (10K+ partner brands); ShopBack Pay in-store + online payments; PayLater BNPL (ended SG + MY March 22, 2025; remaining markets); ShopBack Vouchers; rewards-and-payments integration.
Implementations & partners
Operator: ShopBack Pte. Ltd. (Henry Chan CEO + Joel Leong co-founders).
Major investors: Temasek + Soros Fund Management + Asia Partners Fund + Singtel Innov8 + Credit Suisse + Rakuten Ventures + EV Growth + others.
Acquisitions: Hoolah (BNPL consolidation 2021-2022).
Major SEA cashback + BNPL competitors:
- Atome (SG SEA BNPL — Advance Intelligence Group)
- Grab PayLater (Grab BNPL within Grab ecosystem)
- Pace (SG SEA BNPL)
- SeaMoney + ShopeePay (Sea Group SEA-wide cashback + payments)
- LatitudePay (Australia BNPL with SEA expansion)
- Akulaku (Indonesia-anchored multi-country BNPL)
- [[billease]] (PH leading independent BNPL)
- Rakuten Rewards (US/global cashback rival)
Regulators: MAS + per-country.
Fun facts
- 2014 Singapore founding by Henry Chan + Joel Leong + co-founders.
- 40M+ users across 11 markets.
- Hoolah BNPL acquisition (2021-2022) — BNPL consolidation example.
- March 22, 2025 — ShopBack ends BNPL in SG + MY — strategic shift away from BNPL.
- Distinctive cashback + BNPL bundling (pre-Mar 2025 SG+MY end) — PayLater bills offsettable with Cashback.
- Backed by Temasek + Soros + Asia Partners + Singtel Innov8 + Credit Suisse + Rakuten.
- 2.1-2.5+M Singapore users (over half of SG online-shoppers).
Comparison
| Feature | ShopBack | Atome (SG SEA BNPL rival) | Grab PayLater (Grab BNPL within Grab ecosystem) | [[billease]] (PH leading independent BNPL) | Rakuten Rewards (US/global cashback analogous) |
|---|---|---|---|---|---|
| Operator | ShopBack Pte. Ltd. (Henry Chan CEO + Joel Leong co-founders; Temasek + Soros + Asia Partners + Singtel Innov8 + Credit Suisse + Rakuten backed) | Atome (Advance Intelligence Group) | Grab Holdings (NASDAQ: GRAB) | First Digital Finance Corporation / BillEase | Rakuten Group |
| Type | SEA cashback + ShopBack Pay + BNPL (ended SG+MY Mar 2025) | SG SEA BNPL | Grab BNPL within Grab ecosystem | PH leading independent BNPL | US/global cashback |
| Country | 11 markets (SEA + AU + KR + DE + IN) | SG + SEA | 8 SE Asian | Philippines | US + global |
| Users | 40M+ across 11 markets; 2.1-2.5M+ SG users | Major SEA | 46.2M Grab MTU group | 10M+ | Major US |
| Distinctive | Cashback + BNPL bundling (pre-Mar 2025 SG+MY end); Hoolah acquisition; Mar 22 2025 SG+MY BNPL exit | SG SEA BNPL anchor | Grab super-app integration | More active PH users than Grab per BNPL pure-player rankings | Rakuten Group cashback heritage |
Status
Active, SEA cashback + ShopBack Pay platform with strategic BNPL exit in SG+MY [2, 4]:
- ShopBack Pte. Ltd. (Henry Chan CEO + Joel Leong co-founders) since 2014.
- 40M+ users across 11 markets (SG + MY + ID + PH + TH + VN + TW + AU + KR + DE + IN).
- March 22, 2025 BNPL exit in SG + MY — strategic shift; retains ShopBack Pay cashback core.
- 2.1-2.5M+ SG users (over half of SG online-shoppers).
- MAS + per-country regulated.
Sources
- 1 ShopBack SG — official
- 2 ShopBack Pay + 40M users — Debia
- 3 SG BNPL market 2025 — GlobeNewswire
- 4 ShopBack ends BNPL SG+MY — Fintech Singapore
- [global-cro] In-corpus: see country reports across 11 SEA + AU + KR + DE + IN markets
Source
Biography extracted from shopback.md. See matrix.md for standards-support matrix if present.