ShopBack Malaysia will be releasing a mobile app on Android and iOS tomorrow (July 19) to make it more convenient to shop online and receive money back for every purchase.
In conjunction with the launch of the app, the company will offer an additional RM5 “cashback” when users make a purchase from any of its 500 partners from July 19 to 21.
On top of that 11 e-tailers, including Agoda, Foodpanda, Groupon, Hermo, Lazada and Zalora, will be offering extra cashback, as well as vouchers and 40% discount codes.
“Cashback is really just ‘getting cash back’. It is easy to use and the Cashback savings can be transferred into the user’s bank account after the validation period,” says Sharmeen Looi, ShopBack Malaysia chief operating officer.
Cashback services like ShopBack rely on affiliate agreements with online shopping sites to earn commissions which it shares with its users. Looi says ShopBack offers up to 30% cashback every time consumers spend at partner stores.
She shared some stats – 30% of its shoppers are from the Klang Valley, and they like to shop after lunch (2pm to 3pm) and dinner (9pm to 10pm).
Most of its users go for categories such as travel, fashion, general electronics and household items. Frequently purchased items include local hotel accommodations, baby diapers, mobile top-ups, and Korean fashion and beauty products.
ShopBack claims to be the number one cashback platform in Malaysia and Southeast Asia, and is also present in India, Indonesia, the Philippines and Singapore.
It also claims to have paid out RM5.4mil to local shoppers since February 2015.