ShopBack crosses S$1 billion in cashback to users, says experimentation is still key

[SINGAPORE] Loyalty platform ShopBack has crossed the S$1 billion in cashback to users since its inception 11 years ago, and is not looking to stop trying new things.

Its co-founder Joel Leong told The Business Times that crossing the S$1 billion threshold is proof that the flywheel for ShopBack is working, given the platform’s efforts to drive value for its users, merchants and the platform itself.

“Our goal as a platform is to make sure this flywheel makes sense for them, the goals they are aiming for and how we can help them,” he said. “We keep doing new things, new things that refresh what ShopBack is, and that’s what makes it exciting for us.”