ShopBack, a Temasek-supported shopping and rewards platform, recently revealed that it would be expanding its presence to Hong Kong with a “soft launch” scheduled for August 8, 2022.
ShopBack‘s management noted that they’ve onboarded more than 250 merchants in Hong Kong ranging from domestic to international service providers such as Watsons, Disney+, Apple, KFC, Booking.com, Farfetch, Taobao, Sasa, ParkNShop, iHerb, and others.
ShopBack’s entry into Hong Kong takes place in tandem with the Group’s first global brand refresh across all its key markets in the APAC region.
The firm has reported that it achieved $3.5 billion in sales to 10,000 merchants last year and also introduced its ShopBack Pay Later feature, a Buy Now, Pay Later (BNPL) service.
ShopBack secured $80 million in capital as part of an investment round in June with plans to enhance its product offerings and further expand its financial services to various other markets in the foreseeable future.
Josephine Chow, Head of Expansion and Co-Founder, at ShopBack, said:
“Entering Hong Kong is an exciting prospect for us at ShopBack. The market’s massive potential for e-commerce and the government’s focus on growing the sector illustrates a clear market demand for financial flexibility and convenience in shopping activities. With ShopBack’s vast array of Cashback rewards and financial services, we are excited to see even more shoppers enjoy a seamless shopping experience following our official hard launch in Hong Kong later this year.”
Henry Chan, CEO and Co-founder, remarked:
“ShopBack believes in the power of small wins, applied consistently and continuously, and we work relentlessly to deliver smarter ways to shop and pay. We hope that the rebrand brings out this message more strongly to our shoppers. As we continue to grow our network of partners and brands in Hong Kong, we will continue to engage shoppers across multiple touchpoints, help partners gain visibility and sales, while supporting them in achieving their own victories through small wins.”