Singapore-based ShopBack is bringing its cashback and rewards services to the Kiwis, while Airwallex is expanding its payment services to the US.
ShopBack extends services to New Zealand
ShopBack has expanded its cashback and rewards offerings to New Zealand, launching a mobile app and website tailored for the local market.
The Singapore-based company’s co-founder Joel Leong announced on LinkedIn that the firm’s New Zealand venture is an extension of its Australian operations and includes partnerships with nearly 200 local merchants providing exclusive deals, and improved cashback options directly to New Zealand banks.
“A big shout out to the close to 200 (and counting) merchants and brands already live on the platform,” said Leong.
This comes after a challenging fiscal year for ShopBack, which reported a 20% decline in annual revenue to $87.7 million for the fiscal year ended March 2023. ShopBack, which is backed by Temasek, also reduced its workforce by 24% last month, and closed its buy now, pay later service in March 22.
Airwallex expands payment services to the US
Global payments and financial services platform Airwallex has launched its payments acceptance services in the US. This enables US businesses to utilise Airwallex for accepting both domestic and international payments, while international companies with US operations can offer localised payment solutions to their customers.
Founded in Melbourne in 2015, Airwallex currently services businesses in 35 countries. The firm has raised capital from investors including Tencent, Sequoia Capital, and Salesforce Ventures.