With this licence, ShopBack is authorised to provide specific regulated payment services in Singapore. This means ShopBack can directly enable merchants to accept payments, and let customers pay using ShopBack Pay in Singapore.
Huanmin Huang, Acting CFO and Chief of Staff, ShopBack, said, “Receiving this Major Payment Institution licence marks a foundational milestone for ShopBack. It gives us the infrastructure to scale ShopBack Pay in a way that’s smarter, faster, and more secure — while continuing to deliver value to both users and merchants.”
This positions ShopBack not just as a leader, but as a category-defining platform — blending rewards, payments, and commerce into a single experience. With formal regulatory approval now in place, ShopBack continues to set the standard for how value can be delivered to both shoppers and merchants in a trusted, scalable way.
For consumers, the core ShopBack Pay experience, such as making in-store payments, remains familiar, but users can look forward to a more seamless and secure journey. The licence also paves the way for ShopBack to introduce new features over time.
From a business perspective, the MPI licence signals ShopBack’s readiness to deepen its role in Singapore’s payment ecosystem. ShopBack is now better positioned to work directly with more merchant partners, streamline settlement processes, and enhance its technology stack to support future payment innovations.
This approval marks a key step in ShopBack’s journey to deepen its payments capabilities in Singapore. With ShopBack Pay now operating under formal regulatory oversight, the company is well-positioned to scale its payment offering and strengthen merchant partnerships.
The ShopBack Group is Asia-Pacific’s leading shopping, rewards, and payments platform, serving over 50 million shoppers across 13 markets. In 2025, the Group continues its global growth with its expansion into North America.
Driven by the vision to be the world's most rewarding way to shop, ShopBack is dedicated to saving members money and time, while delivering delightful experiences with every purchase. The platform also enables merchants and brands to engage with their members in a cost-effective manner.
Founded in 2014, ShopBack now powers over US$4 billion in annual sales for over 20,000 online and in-store partners. Facilitating upwards of half a million transactions daily, ShopBack continues to provide value to both members and merchants through its innovative offerings. Notably, its payment solution, ShopBack Pay, offers members a convenient and rewarding payment option at checkout.
