Singapore-headquartered cashback firm ShopBack is preparing to expand its operations in Australia.
The company is planning to extend its cashback rewards through around 200 newly recruited food and beverage merchants in the country. In recent months, the firm has been hiring aggressively and onboarding new merchant partners.
ShopBack’s CCO Candice Ong said of the Australian market: “The consumers there are very used to procuring things online, but their app development is only starting to pick up. Merchants are trying to get into the mobile app space, a lot of them want to drive app usage and that’s where we come in.”
ShopBack offers rewards to customers purchasing online from partner merchants, who pay commissions to the firm. It has more than 7 million users and 1500 trading partners. Australia is the firm’s seventh and most recent market in the Asia Pacific region, where it has attracted more than 120,000 sign-ups to its service. It currently deals with 700 Australian merchants.
The firm has recently diversified into the offline food and beverage industry in its home market of Singapore.