KUALA LUMPUR (Aug 11): Users of ShopBack, can now pay full or in three-month instalments for their shopping at selected physical stores and continue earning cashbacks through the popular online rewards platform.
Prior to the expansion — dubbed ShopBack Pay — which covers offline retailers, users could only pay and earn cashback rewards from affiliated online merchants.
With the new service, ShopBack's five million Malaysian users can also utilise accumulated cashback from their previous purchases in the app to offset their payments at over 2,000 affiliated physical stores. There are over 10,000 online and offline retailers and brands across fashion, sports, health and beauty, travel, home and lifestyle listed on the app.
With the PayLater function, which was introduced to online stores last year, users can stagger their over-the-counter payments over a period of three months with the debit and credit cards registered in their app at no interest as long as payments are made on time. In case of overdue payments, a two-day grace period is provided before late fees are charged.
To make a payment, users simply need to flash the QR code in their app at the selected physical retailer, make the payment and continue to receive cashback rewards just like when they paid on their online platforms. Users can also browse for in-store promotions on the app before making a purchase.
Singapore-headquartered ShopBack started expanding into e-commerce last year after taking over buy now, pay later (BNPL) company hoolah. Following the integration of BNPL, the loyalty app evolved to enable transactions for online purchases.
The option to use ShopBack Pay is restricted to in-person stores in Malaysia for now, but plans are underway to cover online payments, said Eddy Han, general manager of ShopBack Malaysia, at the launch.
With the introduction of PayLater, ShopBack and its partnered stores saw significant growth. Christy Ng, founder and CEO of Christy Ng Bhd, said that her fashion brand witnessed a “strong growth in average order value” since introducing ShopBack PayLater.
With the latest service tapping into online and offline shoppers, this growth is expected to increase once again, added Ng.
Han said the goal of ShopBack Pay is not just to benefit consumers, but to help merchants as well, by streamlining the payment process by consolidating multiple payment methods.
By extending this service to in-person stores, ShopBack hopes to make brick-and-mortar stores more appealing in a post-Covid-19-pandemic landscape, incentivising consumers to go to physical stores.
At present, ShopBack has 40 million users worldwide making over 500,000 transactions per day. From their platform, users can access other stores like Shopee or Uniqlo, and make purchases through the app to earn cash rewards, which can be deposited into their bank accounts.
“To date, Malaysian users have earned more than RM200 million in cashbacks via ShopBack. We want to continue to deliver on this by allowing consumers to also earn cashback when they shop in-store,” said Han.
To celebrate the launch of the new service, ShopBack has partnered with Christy Ng’s Sunway Pyramid outlet and clothing store Jovian in Shah Alam where shoppers can redeem prizes and get an instant RM15 bonus cashback by spending RM300 in-store with ShopBack Pay.
Shoppers also stand to win 100% cashback when they pay with the app at selected merchants such as Puma, Aster Spring, Jakel, Alhumaira, Kapten Batik, Ariani and more from now until Aug 31.
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