ShopBack

The company operates a two-sided commerce and rewards platform. On one side, consumers access a website, mobile apps and browser extensions to earn cashback, use vouchers and make payments at participating merchants. On the other side, merchants and payment partners integrate with the platform to drive incremental sales and transaction volume. The platform tracks referred transactions and allocates a share of merchant-paid affiliate or referral commissions back to users as cashback, while retaining a margin.

Value is created for merchants through performance-based customer acquisition and increased conversion, supported by promotional tools such as vouchers and integrated payments (including BNPL in some markets). Value is created for consumers through perceived savings via cashback and voucher redemption. Network effects arise as more merchants increase consumer utility and more consumers increase the attractiveness for merchants. The company has raised multiple funding rounds to scale this model across APAC and to extend into financial services via acquisition of a BNPL provider.

Ecommerce Enablers Pte. Ltd. is the Singapore-based operating entity behind a consumer cashback and rewards platform active across Asia-Pacific. The business connects online and offline merchants with consumers by tracking purchases through its website, apps and browser extension, then returning part of merchant-paid commissions to users as cash rewards. It has expanded into payment capabilities (including QR and buy-now-pay-later in some markets) and voucher distribution, and has acquired a regional BNPL provider to support this.

The company generates revenue primarily from affiliate and referral commissions paid by merchants on tracked transactions, keeping a margin after passing a portion to end-users as cashback. Additional income is inferred from payment processing and BNPL economics, as well as merchant-funded voucher and promotional campaigns. Paying customers are merchants and payment partners; consumers are users of the rewards and payment products but do not pay directly for access.