ShopBack Thailand launches with 100 merchants
Cash-rebate service ShopBack Thailand has launched with more than 100 merchants on board.
Merchants include online travel booking websites Booking.com and Expedia, beauty platform Sephora, e-commerce giant Lazada, as well as ride-hailing services Grab and Uber. Consumers can expect to receive up to 30 per cent in cash back when the new service.
“Online shopping in Thailand isn’t a trend, it’s part of the everyday retail culture,” says ShopBack Thailand co-founder/country head Kawin Prachanukul. “We’re discovering ways to connect merchants and shoppers in a way that creates added value for both parties.”
Thailand is the sixth market for Singapore-based ShopBack, founded two years ago. As well as Singapore it is active in Indonesia, Malaysia, Taiwan and the Philippines. It has received more than US$1 million in funding from Accel-X and East Ventures.
ShopBack claims to have more than three million users. Merchants on the platform receive more than $20.3 million in sales each month, and to date the service has paid more than $10 million in cash back to its customers.
In Thailand, ShopBack faces competition from homegrown player Dealcha!, backed by Thai seed-funding specialist 500 TukTuks.