ShopBack is the largest cashback reward program in the Asia Pacific. Founded in 2014, it has witnessed incredible growth, with over five million members now using its service across the region.
To further capitalize on the region's ecommerce boom and sustain growth in the face of the headwinds caused by the COVID-19 pandemic, ShopBack accelerated the launch of its new business line, ShopBack Deals. The service allows its members to buy coupons, voucher codes and gift cards directly from the ShopBack app.
As it would now be accepting payments directly from its customers, ShopBack needed an agile and forward-thinking payments partner to power its new business. Checkout.com was selected as that partner based on its flexible and scalable technology, the deep knowledge of its support teams across the region and its ability to move at the same speed as ShopBack.
Unlocking growth during the COVID-19 pandemic
ShopBack processed its first payments in Singapore through the Checkout.com platform in September 2020. Onboarding took place seamlessly with Checkout.com deploying the resources needed to ensure ShopBack could meet its targeted launch date.
"We're a fast-moving business and expect our partners to move at the same pace as we do," says Vincent Wong, Head of ShopBack GO, Singapore. "Checkout.com showed it was up to the challenge from day one. Integration was simple thanks to its unified API. And we had the full support of Checkout.com to help us overcome any hurdles we faced and ensure all the other aspects of onboarding were complete."
Once ShopBack was live, Checkout.com began looking at the data flowing through the platform to understand its payments performance and where there was room for optimization. The work done off the back of this analysis has led to an 8.9% uplift in acceptance rate for ShopBack, generating additional revenue, as well as a reduction in its overall payment fees.
Allowing ShopBack to move into new markets faster
After going live in Singapore, ShopBack set Checkout.com another ambitious goal: to enable them to accept payments in Australia before Black Friday.
The challenge was no problem. Checkout.com’s technology is specifically designed to allow merchants to unlock new markets without any additional integrations or reconfiguration of systems. And its local support teams are armed with the expertise to streamline onboarding.
"We set the Checkout.com team a tight deadline to ensure we could capitalize on Black Friday shopping boom," says Joey Yang, Product Manager at ShopBack. "But there wasn't any doubt it would meet the deadline. Checkout.com's local expertise, domestic acquiring capabilities and unified platform for worldwide processing made the process straightforward, allowing us to focus on preparing for Black Friday."
"We achieved 6x of average daily processing in Australia during our Black Friday campaign," adds Yang. "This wouldn’t have been possible without the hard work and dedication of the Checkout.com team and the flexibility of its solution."
Better payments, better growth
With such impressive results delivered already, Checkout.com and ShopBack are heading into the next chapter of their partnership, focusing on unlocking more markets and new payment methods.
"ShopBack has continued on a growth trajectory despite the turbulence caused by the COVID-19 pandemic," concludes Wong. "Our partnership with Checkout.com is one of the reasons for that. It has given us best-in-class payments performance at a time when every sale counts. The success we've seen is testament to its technology and the expertise of the teams at Checkout.com who truly understand how to help businesses turn payments into a catalyst for growth."