What is ShopBack Malaysia?
The parent company of ShopBack Malaysia, ShopBack, is a Singaporean based e-commerce company that takes advantage of the cashback reward business model. A cashback reward business model is a business where the online shoppers are given an opportunity to take back some of their cash or get a cash rebate when they choose to buy something through the company’s platform. In addition, ShopBack also provides discount vouchers and coupon codes for online shopping.
Prior to that, the ShopBack concept previously started from Rocket Internet, a well-known German company known for building successful start-ups around the world. Some of their famous start-ups from Rocket Internet are FoodPanda and EasyTaxi.
Since its establishment in 2014, ShopBack has grown to partner with more than 1300 global and local online stores. As a result, it is now the largest and fastest growing cashback loyalty platform in the whole Southeast Asia. ShopBack leverages on technology to solve information asymmetry and help their customers with better and smarter purchasing decisions. ShopBack is currently affiliated with more than 300 merchants from all over the world and they include some big and famous names such as Taobao, Rakuten, Groupon, Ebay, Lazada Group, Zalora, Paytm, ShopClues, Flipkart, and Jabong. Besides that, ShopBack also collaborated with international and regional organizations including Citibank Singapore, Starhub, EZ-Link, Singapore Committee for UN Women, Institute of Singapore Chartered Accounts, National Trade Union Congress, Bank of Philippine Islands, Globe Telcom, Air Asia, United Overseas Bank, Maybank, and Packet One Networks.
ShopBack is currently operating in 6 countries in Asian region. The countries are Singapore, Malaysia, Philippines, Indonesia, Taiwan, and India.
How Does ShopBack Work?
ShopBack helps you, the customer, to get the best deals and discounts from over 1500 online stores worldwide affiliated with ShopBack. In addition, you will also receive a cashback for every purchase you made. Cashback literally means just getting the cash back. When you spend money on Shopback, the company will give you a portion of the purchased price back as your cashback. Therefore, this allows you to enjoy plenty of savings whenever you choose to shop online in ShopBack.
This is how cashback really works. ShopBack will get a commission from the affiliated online merchants and stores when they refer you to shop at their respective websites. However, unlike other companies, instead of ShopBack taking all of the commissions, ShopBack choose to share it with their customers, which is you.
For example, Lazada gives a commission to ShopBack for referring you to shop on Lazada’s website. ShopBack gives some of its commission to you in the form of cashback.
Below is a list of some of the online merchants and stores affiliated with ShopBack along with their cashback details:
- Lazada Malaysia – Maximum 11% cashback
- Lazada Mobile App – Maximum 4.5% cashback
- Qoo10 – Maximum 4.0% cashback
- Hermo Malaysia – Maximum 2.0% cashback
- Zalora – Maximum 9.0% cashback
- Expedia – Maximum 6% cashback
- AliExpress – Maximum 8.0% cashback
- Booking – Maximum 9.0% cashback
- Fave by Groupon – Maximum 4.5% cashback
- AirAsiaGo – Maximum 8.0% cashback
- Foodpanda Malaysia – Maximum 8.0% cashback
- Althea – Maximum 7.0% cashback
You can also find out how much you can save and how much cashback you can get by using the simulator found on How ShopBack Works section in the official website.
How To Get Started With ShopBack?
Sign up for free here.
Follow the simple instructions listed below to get started with ShopBack Malaysia.
Step 1 – Click on any of the displayed stores in ShopBack’s official website and get redirected to that particular store’s website
Step 2 – Shop as usual on the store’s website and make your purchase
Step 3 – Get your cashback in your ShopBack account within 48 hours under the Pending section
Step 4 – You can redeem for your cashback once the merchant validates the order and this process can take anywhere between 30-60 days to make sure that there is no order cancellation, return or exchange.
Step 5 – You can request for a payout by ShopBack when your redeemable cashback amount is at least RM10
Step 6 – You can only cash out your bonus when your redeemable cashback amount reaches at least RM10 too
Step 7 – You can cash out your redeemable cashback amount to any of the any of the following bank accounts:
- UOB Malaysia
- Maybank Malaysia
- Bank Islam
- CIMB Bank Malaysia
- Public Bank
- OCBC Bank Malaysia
- RHB Bank
- HSBC Malaysia
- Hong Leong Bank
According to a news report by Digital News Asia, ShopBack invested USD 493000 into the Malaysian Market on 24th of February 2015. As a result, ShopBack Malaysia was born.
Based on the report during that time, Malaysian shoppers have the opportunity to buy products from more than 300 online stores. ShopBack aims to reach more than 200,000 online shoppers in Malaysia and Singapore on a monthly basis. On 17th of February 2016, ShopBack Malaysia hosted the biggest Cashback Sale to encourage more Malaysian online shoppers to shop and save by using the ShopBack Malaysia.
Since then, plenty of Malaysian users and shoppers have gave ShopBack Malaysia glowing reviews and some of these reviews are found in the ShopBack Malaysia’s official website. Most of them said the cashback concept is awesome and it saves a lot of money, it works, and they have received the cashback in their respective bank accounts.
There are also a lot of press and media coverage surrounding ShopBack Malaysia. Besides The Borneo Post Online, other big press and media companies such as New Straits Times, The Star, The Business Times and BFM radio also covers ShopBack Malaysia’s latest news and events.