ShopBack secures MPI licence in Singapore for payment product

ShopBack Pay is now authorized to provide payment services in the country.

ShopBack, a rewards and payment platform, has secured a Major Payment Institution (MPI) licence from the Monetary Authority of Singapore (MAS) for its payment product ShopBack Pay.

With this, ShopBack Pay is now authorized to provide regulated payment services in Singapore.

ShopBack can now directly enable merchants to accept payments, and let customers pay using ShopBack Pay.

ShopBack is a shopping, rewards, and payments platform. It is expanding into Europe and North America in 2025.

Founded in 2014, ShopBack said that it now powers over US$4b in annual sales for over 20,000 online and in-store partners, serving over 50 million shoppers across 13 markets.