KUALA LUMPUR: ShopBack, Asia-Pacific's shopping and rewards platform, has launched a new feature, PayLater, on its platform as the company aspires to be a preferred checkout option for shoppers with the new feature.
As the entry point to rewarding shopping for over 30 million shoppers across the Asia-Pacific, ShopBack also announced a brand refresh. Underscored with its new tagline "For the Wins" the brand refresh looks to translate the small wins on ShopBack's platform into an elevated shopping experience.
Following the company's acquisition of Buy Now, Pay Later player Hoolah, the ShopBack app now integrates hoolah's platform capabilities within the app, providing shoppers seamless, convenient, and rewarding ways to shop.
"We believe financial flexibility is the key to achieving our goal of making shopping rewarding, personalised, and accessible to all. By providing a broader platform of new capabilities and services like ShopBack PayLater, we are excited to unlock value for shoppers to shop smarter, and we are confident that the rewarding experience will help merchants further drive customer loyalty and gain new customers," said ShopBack Malaysia general manager of ShopBack PayLater Jason Wong.
The new feature allows users to monitor expenses by checking on spending limits and tracking upcoming bills in-app. Shoppers can enjoy the instant in-app approval and split payments into three zero-interest monthly instalments at over 2,000 online and brick and mortar stores.
Sharing more on the new feature at an event held here, ShopBack managing director of financial services, Hamish Moline said that the new BNPL feature is an attractive feature especially among the Gen Z, trendy Millennials as well as young families who prefer the payment flexibility as compared to a traditional credit card.
Moline also added that Hoolah has been fully migrated onto the feature and existing customers to the platform are onboarded to ShopBack and that currently, many of their existing merchants have already onboarded the ShopBack PayLater.
To make it even more rewarding, ShopBack users can also earn Cashback when they shop and use the Cashback available in their account to offset new purchases with ShopBack PayLater.
To date, over RM150 million worth of cashback has been given out to Malaysian users where they can either withdraw the cashback to their bank of choice or use it to offset upcoming purchases when paying with ShopBack PayLater.
Over the years, ShopBack has grown from a cashback platform to a leading shopping and payments app. In Malaysia, it boasts more than five million users and generated RM1.7 billion gross merchandise value in annual sales for over 900 merchant partners.
Enjoy extra discounts using PayLater with Shopee Voucher Code.