ShopBack Pay targets Hong Kong F&B to drive user growth

It’s open to other sectors where it can widen rewards and back merchant expansion.

ShopBack Pay is targeting Hong Kong’s food and beverage (F&B) sector as its entry point into the market, banking on high-frequency spending to anchor user engagement and drive repeat transactions.

“We have found that food and beverage is the ideal starting point, drawing from our experience launching ShopBack Pay in Singapore, Australia, and Malaysia,” Julian Foo, general manager of financial services at ShopBack Pay, told Hong Kong Business.

It allows the platform to test whether shoppers will form the habit of paying through ShopBack Pay in exchange for rewards, he added.

ShopBack has drawn about a million users in Hong Kong since its launch in 2022, with shoppers having earned more than $300 million in cashback, according to Foo.

Users can now redeem their cashback or pay through linked methods at more than 700 outlets, including Ten Ren Tea, Gyu-Kaku, Kabo Burger, Aboutea, and Sushi Express.

The company is improving gamified features such as ShopBack Play, along with more tailored recommendations, to retain more customers.

Whilst the initial focus remains on local F&B players, the platform is open to other verticals where it can widen rewards and back merchant growth, Foo said, without naming specific sectors.

“Today, our partnerships primarily focus on local food and beverage brands, but we are open to expanding into wherever we can meaningfully improve the customer experience and drive merchant growth,” he said in an emailed reply to questions.

The rollout comes as the government pushes to revive domestic consumption and as shoppers seek ways to support neighbourhood businesses.

For retailers, ShopBack Pay provides access to customer-behaviour data without the need to build separate apps or heavy digital infrastructure.

Foo said the system offers insights into spending patterns that can help merchants map targeted campaigns and encourage repeat visits.

Its cashback model is structured to keep customers returning, since rewards can only be redeemed on the next transaction. Users can also stack ShopBack cashback with rewards from their preferred payment instruments, including credit-card points.

ShopBack Pay’s integration with Octopus, Hong Kong’s most widely used payment method, gives the platform a strong distribution base as retailers face pressure from rising rents, labour shortages, and larger online competitors.

Foo said the company would concentrate on strengthening its Hong Kong operations rather than chasing a wider rollout. The aim is to deepen adoption, educate merchants, and reinforce how the platform boosts rewards on everyday purchases. 

“Our focus is on getting ShopBack Pay in Hong Kong right,” he said.