ShopBack Pay and ShopBack PayLater: How To Maximise Your Cashback With The Best Credit Card Pairings

ShopBack Pay is now available online! Get an instant cashback of up to S$10 when you pay with ShopBack, plus find out the best credit cards to pair with here. 

If you’re an avid ShopBack user, you’ve probably been enjoying the cashback benefits when using its payment methods, ShopBack Pay and ShopBack PayLater, to pay for your purchases.

However, you may have noticed that ShopBack Pay is only available for offline purchases. Moreover, the cashback is in the form of ‘return cashback’, which means it’s only ‘confirmed’ when you return to the same store.  

But the good news is that ShopBack Pay is finally available online! Plus, with its new online payment rewards, you can enjoy an instant cashback of up to S$10 for every online purchase when you pay via ShopBack Pay or ShopBack PayLater.

It gets better — besides the cashback you receive from ShopBack Pay and PayLater, you can also stack additional rewards/cashback from your shopping credit card when using it to make the purchase. 

In this article, we’ll explain the benefits of using ShopBack Pay and ShopBack PayLater and share how you can get the most out of your spending by stacking it with the right credit cards.
 

Table of contents

• What is ShopBack and how does it work?
• How to redeem your cashback scratch card on ShopBack
• Benefits of using ShopBack Pay and PayLater
• ShopBack Pay Vs ShopBack PayLater vs Atome vs FavePay
• Best credit cards to pair with ShopBack Pay and ShopBack PayLater
• How to maximise your credit card rewards on ShopBack
• Conclusion

What is ShopBack and how does it work?

In case you’re unfamiliar, ShopBack is a rewards, shopping, and payment platform that allows you to earn cashback when you transact through the platform.

When using ShopBack online, all you need to do is sign up for an account and visit your favourite online stores from the ShopBack app, website, or ShopBack Button before you buy. 

But if you’re using ShopBack for payments (i.e. ShopBack Pay and PayLater), you’ll need to link your preferred payment methods (Visa/Mastercard credit or debit cards, GrabPay, or Apple Pay).

There are essentially three ways to earn cashback on ShopBack:

1. Shopping online via ShopBack
2. Purchasing ShopBack e-vouchers or store credits
3. Making a payment with ShopBack Pay in-store (return cashback at selected stores only)

As the name suggests, the former two lets you earn cashback when shopping online using the ShopBack app or ShopBack Button web extension, while the latter allows you to earn return cashback in subsequent visits by scanning the ShopBack QR code at physical stores and paying with ShopBack Pay or PayLater.

But with the launch of ShopBack Pay online, there’s now a fourth way to earn cashback through ShopBack!

How to redeem your cashback scratch card on ShopBack

To redeem your cashback scratch card on ShopBack, follow these simple steps:

1) Make a successful online payment via ShopBack Pay/ShopBack PayLater

2) On the ShopBack app, tap ‘My Account’ and then ‘Rewards’

3) Scratch the card within 48 hours

4) The bonus cashback will be credited to your ShopBack Account immediately

Benefits of using ShopBack Pay and PayLater 

1. Earn up to S$10 instant cashback on every online transaction

When paying with ShopBack for online transactions, you’ll get an instant cashback of up to S$10 via scratch card with every payment. 

This means the cashback isn’t tied to a particular brand, and you don’t have to return to the same vendor to receive cashback. 

In addition to the instant cashback via scratch cards, you can earn up to 20% partner cashback if you shop via ShopBack with their partner affiliates.

2. Earn up to 12% return cashback at physical stores

As previously mentioned, when you pay with ShopBack by scanning the ShopBack QR code in physical stores, you’ll earn return cashback from visiting the same brand outlets again.

This is great if you frequently visit the brand outlets, as you can accumulate cashback at your favourite stores, including Yolé, Food Republic, Boost Juice Bars, Krispy Kreme, and Gong Cha.
 

3. Use cashback to pay for your purchase or credit them into your account

When using ShopBack Pay or PayLater, you can use your available cashback to offset the total amount of your purchase. 

Alternatively, you can choose to accumulate and withdraw your available cashback into your bank account via bank transfer or e-wallet transfer. It takes about three to five working days to receive the funds by bank transfer and up to 30 days for e-wallet transfers. 

Note that you can only withdraw once your confirmed cashback reaches S$10, and the withdrawal limit is capped at S$300 per day.

4. Double dip rewards — earn cashback on ShopBack and miles/cashback/points on your credit card

In addition to the cashback you get on ShopBack, you can leverage your credit card benefits when you use it to make your purchase.

This method, also known as ‘double dipping ', allows you to stack rewards as you spend. Earn miles, cashback, or points from your credit card and cashback from ShopBack.

All you have to do is link your credit card and select it as your preferred payment. See the best credit cards to use below. 

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ShopBack Pay Vs ShopBack PayLater vs Atome vs FavePay 

Here’s an overview of ShopBack Pay and ShopBack PayLater compared with other payment methods. 

The biggest difference between ShopBack Pay/PayLater and other payment methods is that you can decide what to do with your cashback; you can choose to use, accumulate, or credit your cashback into your bank account.

This is unlike FavePay, where the cashback earned is immediately used to offset your future transactions. 

There are also more categories on ShopBack for both online and offline transactions, as compared to Fave where it’s more commonly available for beauty and food. 

Besides that, with ShopBack PayLater, you also have the option to split your payments into smaller and more manageable amounts. Moreover, there’s no interest or processing fee charged on instalments. 

While Atome offers BNPL service as well, it doesn’t offer you direct cashback. Instead, you’ll earn 1 Atome+ point for every S$2 spent. You can use your points to directly offset your purchases or cash in your points to redeem the various rewards on the Atome+ rewards programme, but it requires a lot of points.

Best credit cards to pair with ShopBack Pay and ShopBack PayLater

The best credit cards to use with ShopBack Pay and PayLater are those that reward you for online transactions.

However, what sets the two apart is the MCC for the former is based on the underlying merchant, whereas the MCC for the latter is MCC 5999 (Miscellaneous and Specialty Retail Stores). As such, the cards to use will depend on whether you're paying with ShopBack Pay or PayLater.

Below are our recommendations for the best credit cards to use with ShopBack Pay/ShopBack PayLater:

Best credit cards for ShopBack Pay

Remember, the MCC for ShopBack Pay is charged according to the underlying merchant, so it's important to know which MCC the merchant falls under.

For example, buying a new phone or laptop will earn you 4 mpd on the HSBC Revolution Card or Citi Rewards Card, but not if you pay with the UOB Lady's Card because electronic stores (MCC 5732) and computers, peripherals, and software (MCC 5045) aren't eligible categories. 

If you need help understanding MCC, read this article. 

Best credit cards for ShopBack PayLater

On the other hand, ShopBack PayLater is more straightforward as transactions will fall under MCC 5999, so these are the best cards to use:

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How to maximise your credit card rewards on ShopBack

Here’s a pro tip: when using ShopBack, one way you can maximise your credit card rewards/cashback is to split the payments either over a few credit cards or via ShopBack PayLater.

Split your payments over a few credit cards

Say that you have the Citi Rewards Card and HSBC Revolution Card (both of which have a S$1,000 monthly bonus cap), and you plan to purchase a phone for S$1,500.

Suppose you charge it to your Citi Rewards Card/HSBC Revolution Card, which gives you 4 mpd on the first S$1,000 but only 0.4 mpd for amounts above S$1,000, you will only earn 4,200 miles in total. 

Thus, one way to get around this is to purchase ShopBack vouchers and charge the remaining amount on another card. For instance, you could purchase a S$500 voucher via ShopBack with the HSBC Revolution Card, use the voucher to offset the price of the phone, and charge the remaining S$1,000 onto the Citi Rewards Card.

This way, you’ll be able to keep within the bonus cap, earning 6,000 miles in total.
 

Purchase with ShopBack PayLater

But let’s say you don’t have multiple credit cards, so splitting the transaction isn’t an option.

But if ShopBack PayLater is an option, you can split the payments into three monthly instalments of S$500 each. 

Since each instalment is below the S$1,000 monthly cap, you’ll be able to get the most out of your credit card without exceeding the bonus cap. 

But beware! Some credit card users have reported not earning bonus points in the second and third instalments on ShopBack PayLater because they're converted into offline payments.

So, if you're using a credit card that only offers bonus points for online transactions (e.g. Citi Rewards, DBS Woman's World Card, UOB KrisFlyer Credit Card, etc.), this means you won't be able to earn bonus reward points. 

While you can pair the Instarem amaze card with a supported Mastercard such as Citi Rewards and UOB KrisFlyer Credit Card to convert them into online payments, remember that amaze now charges a 1% fee for selected transactions, which also includes ShopBack PayLater (MCC 5999).

Therefore, it's recommended that you opt out of auto deductions and trigger the payments manually a few days before each billing cycle. This will ensure that you can earn the maximum points.  

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Conclusion

ShopBack Pay and PayLater allows you to earn a percentage of cashback on eligible purchases on top of your credit card rewards. You can use the cashback you earn from ShopBack to offset future purchases or credit them into your bank account.

Meanwhile, with ShopBack PayLater, you can break up payments over three monthly instalment plans so you can manage your cashflow and credit card(s) bonus cap.

Earn S$5 bonus cashback when you sign up for an account and make an online payment with ShopBack with this exclusive promo code: “SINGSAVER5”. 

This article was written in partnership with ShopBack

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