Singapore Rewards App ShopBack Buys Hoolah to Expand in Payments

Singapore’s online-shopping rewards app ShopBack is buying local fintech startup Hoolah to add “buy now, pay later” services.

The deal expands ShopBack’s services beyond cashback and other rewards it currently offers to consumers on properties of Alibaba Group Holding Ltd. and other major online retailers. The companies didn’t disclose the acquisition’s value in their statement on Tuesday.

Closely held ShopBack, with investors including Temasek Holdings Pte and Rakuten Capital, is seeking to become a more significant partner for merchants as online shopping gains popularity in Asia. Hoolah, a pioneer in “buy now, pay later” services in Southeast Asia, lets consumers ...