ShopBack Secures MPI Licence from MAS, Strengthening Its Role in Singapore’s Digital Payments Ecosystem

-ShopBack is now officially authorised by MAS to provide regulated payment services in Singapore.
– This milestone marks a significant step in ShopBack’s evolution into a fully integrated shopping and payments ecosystem.
– With ShopBack Pay now operating under formal regulatory oversight, ShopBack strengthens its foundation of trust, security, and scalability.
– The licence enhances ShopBack’s ability to innovate, form direct merchant partnerships, and deliver even greater value to users.

Singapore, 8 July 2025 – ShopBack, Asia-Pacific’s leading shopping, rewards, and payments platform, today announced that it has been granted a Major Payment Institution (MPI) licence by the Monetary Authority of Singapore (MAS) under the Payment Services Act for the provision of its payment product, ShopBack Pay. This approval further accelerates ShopBack’s evolution into a fully integrated shopping and payments ecosystem.

With this licence, ShopBack is authorised to provide regulated payment services in Singapore. This means ShopBack can now directly enable merchants to accept payments and let customers pay using ShopBack Pay — all under its own licensed infrastructure.

The MPI licence provides formal regulatory recognition of ShopBack Pay and affirms MAS’s confidence in ShopBack’s ability to deliver payments services at scale. While the user experience remains familiar in the near term, the licence provides a strong foundation for future innovation and signals to users, merchants, and brand partners that ShopBack Pay is now operating within a trusted and fully regulated framework.

Huanmin Huang, Acting CFO and Chief of Staff, ShopBack, said, “Receiving this Major Payment Institution licence marks a foundational milestone for ShopBack. It reflects MAS’s trust in our ability to operate responsibly and 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.”

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 licence also  paves the way for ShopBack to introduce new features over time, supported by the safeguards
and standards of a robust regulatory framework.

From a business perspective, the MPI licence signals ShopBack’s readiness to deepen its role in Singapore’s payment ecosystem. ShopBack 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 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 — beginning with Singapore and expanding across the region over time.

For more information, please visit: https://corporate.shopback.com/about