Singapore's ShopBack to enter Japan next year through local businesses

What happened: Singapore-based ShopBack plans to enter Japan as early as next year by providing its cashback app technology to local businesses, according to CEO Henry Chan. Why it matters: The SoftBank-backed startup is seeking a foothold in one of Asia's largest loyalty markets. Its CEO said it will not offer a reward app for now due to intense competition. Key numbers: Entry targeted for as early as next year; platform offers cashback through more than 20,000 merchants.

Singapore-based ShopBack plans to enter Japan as early as next year by providing its cashback app technology to local businesses, according to CEO Henry Chan.

The SoftBank-backed startup is seeking a foothold in one of Asia's largest loyalty markets. Its CEO said it will not offer a reward app for now due to intense competition. Key numbers: Entry targeted for as early as next year; platform offers cashback through more than 20,000 merchants.