RE.X, a Taiwan-based cross-industry cashback app operated by Hong Kong merchant RE Co., has stopped all operations and entered dissolution and liquidation. In its statement, the company said its planned fundraising effort was severely disrupted by geopolitical instability. After taking on debt to keep the business running, it said its financial resources were exhausted, forcing a shutdown. Tens of thousands of users are now unable to access balances held in their accounts, while stored shopping credits and bonus points have also been frozen.
Claims window open as liquidation relies on system backup records
According to local media reports, RE.X launched in September 2017 and promoted itself as a cross-platform cashback service. It claimed to work with more than 8,000 partner merchants and advertised cashback of up to 100%. After the shutdown became public, users reported being unable to log in or withdraw remaining funds, with some saying their accounts still held recent business income.
The operator said users may submit claims through an online form for shopping credits and reward points by March 15, 2026. The company added that liquidation will be based on complete backup data preserved before the system was turned off. Whether users receive compensation, and how much they may recover, will depend on the assets left after the liquidation process is completed.
Payment upgrade came months before the shutdown
The closure came not long after the platform was still rolling out new features. In September 2024, RE.X announced a full payment system upgrade and said it would support integrations with Apple Pay and Google Pay in an attempt to broaden usage. Less than two years later, the platform has gone dark, catching both users and merchants off guard.
The case has also drawn attention to differences in user fund protection across digital payment services. The report noted that RE.X operated as a cashback app rather than a formally licensed electronic payment institution. That distinction matters when a company runs into financial trouble: protections for customer balances may be weaker, and users can end up waiting as creditors in the liquidation process.