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With Hoolah takeover, Shopback steps into payments with rewards in tow

Jovi Ho
Jovi Ho5/12/2022 02:46 PM GMT+08  • 5 min read
With Hoolah takeover, Shopback steps into payments with rewards in tow
Moline: We’re not trying to become a bank. We’re building delightful shopping experiences that have the option when you check out to pay now or pay later, in a way that you choose. Photo: Albert Chua
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For Shopback, what started out as an online cashback platform in 2014 has morphed into something much bigger.

In December 2021, Shopback completed its acquisition of “buy now, pay later” (BNPL) platform Hoolah, marking its foray into the financial services space.

The company furthered this venture in January by launching Shopback Pay. The in-app feature rewards users with discounts when paying with associated digital wallets, such as GrabPay, at over 2,000 participating merchants islandwide. Shopback is not only acquiring companies, but talent as well.

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