ShopBack, a Singapore-based shopping, rewards, and payments platform, announced Tuesday that it has been granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore (MAS) for digital payments.
The firm said in a statement that this approval further accelerates its evolution into a fully integrated shopping and payments ecosystem.
With this license, ShopBack is authorized to provide specific regulated payment services in Singapore.
This means the firm can directly enable merchants to accept payments, and let customers pay using ShopBack Pay in Singapore.
“Receiving this Major Payment Institution license marks a foundational milestone for ShopBack,
“It gives us the infrastructure to scale ShopBack Pay in a way that’s smarter, faster, and more secure — while continuing to deliver value to both users and merchants,” said Huanmin Huang, Acting CFO and Chief of Staff, ShopBack.
According to the statement, this positions ShopBack not just as a leader, but as a category-defining platform — blending rewards, payments, and commerce into a single experience.
With formal regulatory approval now in place, ShopBack continues to set the standard for how value can be delivered to both shoppers and merchants in a trusted, scalable way.
For consumers, the core ShopBack Pay experience, such as making in-store payments, remains familiar, but users can look forward to a more seamless and secure journey.
The license also paves the way for ShopBack to introduce new features over time.
From a business perspective, the MPI license signals ShopBack’s readiness to deepen its role in Singapore’s payment ecosystem.
The firm is now better positioned to work directly with more merchant partners, streamline settlement processes, and enhance its technology stack to support future payment innovations.
This approval also marks a key step in ShopBack’s journey to deepen its payments capabilities in Singapore.
With ShopBack Pay now operating under formal regulatory oversight, the company is well-positioned to scale its payment offering and strengthen merchant partnerships.
The ShopBack Group is a shopping, rewards, and payments platform, serving over 50 million shoppers across 13 markets.
In 2025, the group continues its global growth with its expansion into North America.
Founded in 2014, the firm now powers over $4 billion in annual sales for over 20,000 online and in-store partners.
It is facilitating upwards of half a million transactions daily.