Shopback is a consumer friendly application that lets you earn money while spending money.
As we move forward in the 21st century, the shopping landscape is changing by leaps and bounds. Just as we get accustomed to various online shopping via browsers and mobile applications, comes along Shopback, a way for consumers to earn back the money the money we spend on shopping. Since its inception in 2015, Shopback has given out 25 million worth of cashback to Malaysians. To help us further understand Shopback, the co-founder and COO of Shopback Malaysia, Shermeen Looi shares with us 5 things about the application that we may not know yet.
What is Shopback?
What we do is create a community that makes smarter decision, by providing this platform where we give cash back to users when they shop through us. What happens is that we have over 500 online merchants in Malaysia, including e-commerce sites like Lazada and Zalora, travel portals like Traveloka and Malaysia Airlines, and food delivery services as well. So, every time when users want to make a purchase online, they go through us and they get the portion of their money back.
How do users get their cash back?
A lot of people ask, how do we give back the money right? So how we give back the money is for every successful order that we give to a merchant, they give us a commission from the transaction value, say like 10% or 20%. So we keep some and we give some to our users as cashback. That way everybody is in a win-win situation. The users will get cashback, we get a small portion of margin and our merchants actually get sales and they only pay us for every successful sale. I can be driving millions of traffic to them, but they only pay me for successful sales. That’s why it’s a risk-free.
What are the Shopback platforms available for users?
For now we have our website, application and browser extension. We started on desktop and then we realised mobile penetration in Asia is really heavy. As our company is essentially an IT company, we then came up with the application to ensure our users have a seamless journey. Our latest product is the extension on the browser which ensures that you don’t forget to go through Shopback when buying something online.
What types of merchants can users find on Shopback?
Well we have Grab, so whenever you take Grab, you should get a portion of your money. We have many types of verticals with various merchants within them. As I mentioned before we have merchants like Lazada and Zalora, as well as food delivery services. Recently we put in internet packages, and there’s nowhere in Malaysia that when you take up internet and services like Unifi or Streamyx that you get a portion of your money back. We also have an education vertical with one of the merchants being Udemy, where you can purchase classes from there and get cashback. We also have many international brands like Asos, Nike, Gap, Manchester United the official store, ebay, and Taobao.
What’s next for Shopback?
Currently, we have a million users in Malaysia. We still have a lot more to go. But that’s a good thing for us, because it means we still need to grow and there’s a potential of business as if we are already there then we can’t do anything more.
Ready to make money while spending money? Download Shopback today!