Shopping and rewards platform Shopback has appointed Hamish Moline as managing director of financial services, a further step into the sector after acquiring a "buy now, pay later" platform last December.
Based in the Shopback Group headquarters in Singapore, Moline will be responsible for leading the development and rollout of commerce-related financial services under the Shopback brand, reads a Jan 18 press release.
In his previous roles as chief commercial officer and managing director, Asia and global payments at Australian Securities Exchange-listed Zip Co Limited, he spearheaded Zip’s advancement into the global payments ecosystem, and built key partnerships to drive rapid growth for merchants.
Prior to that, he held key leadership positions in global financial services and ecommerce giants, including Visa, PayPal and eBay.
Hamish Moline, managing director, financial services for Shopback Group
See also: Shopback acquires 'buy now, pay later' platform Hoolah as co-founder departs
“Shopback exists to make shopping rewarding, delightful and accessible for shoppers. With the addition of financial services to Shopback’s shopping platform, and leveraging on Hamish’s domain expertise and market knowledge, the Group is well-positioned to be the growth partner of choice for thousands of merchants across the Asia Pacific,” says Henry Chan, co-founder and CEO of Shopback Group.
"I am extremely excited by the opportunity ahead for Shopback. The idea of bringing together sophisticated marketing services and a scaled demand generation engine with new financial services is very powerful and generates true value for merchants and consumers. This enhances Shopback’s mission to make shopping better, every day. Digital payments will continue its rapid growth throughout Asia and I’m thankful that I can bring my experience in this area to the Shopback team," says Moline.
In December 2021, Shopback completed the acquisition of leading "buy now, pay later" platform Hoolah, marking its first foray into the financial services space.
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Shopback Pay, a new product that allows users to pay via different digital wallets while stacking rewards, will go live at over 2,000 participating outlets in Singapore this month.
In 2021, the Group powered over US$3.5 billion of annual sales to over 10,000 online and in-store merchant partners across the Asia Pacific.
The local rewards platform snagged US$40 million in its latest funding round in October, with US$32.5 million coming from Temasek alone. Temasek had earlier led a US$75 million round into the company in March 2020.
According to VentureCap Insights, the latest round values the start-up at some US$539.4 million.
