Westpac has invested US$30 million (AU$44 million) in the ShopBack Group, one of Asia-Pacific’s leading shopping and rewards platforms, in a move to provide customers with bonus cashback offers and more digital experiences.
From today, more than five million Westpac credit and debit card customers will be able to access exclusive cashback offers via a dedicated Westpac hub in the ShopBack app and website.
The ShopBack Group was founded in 2014 and has operated in Australia since 2018, with more than two million Australians registered to get cashback for shopping online at more than 3,000 participating retailers.
“This is an exciting step in providing our customers with access to exclusive online deals and helping them get more for their money at a time when budgeting is high on the agenda,” said Steve Rubenstein, Westpac Managing Director, Consumer Finance.
“We know the ShopBack partnership will appeal to younger Australians who are savvy with managing their money and want more offers from their bank.
“Our credit and debit card customers can be rewarded with cashback for shopping at their favourite online stores across fashion, technology, food, travel, and more,” said Mr Rubenstein.
Westpac data shows more customers than ever are transacting digitally, with an increase of 13 per cent in the last year, totalling almost 700 million digital transactions.
“We want to provide digital tools and experiences which give our customers choice, convenience, and control over their spending,” said Jason Hair, Westpac Chief Digital Officer.
“Tens of thousands of our customers already shop with ShopBack and will now be able to benefit from exclusive offers and deals via the Westpac hub, putting cashback in their ShopBack account.
“This builds on other features we are giving customers to help manage their money, including the recent integration of personal budgeting tools within the Westpac mobile banking app,” said Mr Hair.
Westpac customers can access the exclusive offers by visiting ShopBack’s website or downloading the app, adding an eligible Westpac debit or credit card and using the same card to purchase at one of the participating online retailers.
Customers can access money back offers after making a purchase via the ShopBack website or app, known as ‘cashback’. The cashback is credited by ShopBack to a customer’s ShopBack account and can be used to make purchases or can be eligible for transfer to their bank account.
“The partnership is exciting for both ShopBack and Westpac customers who are looking for an easy and more rewarding way to shop. We’ve co-created a seamless experience for Westpac customers to earn additional rewards simply by shopping through ShopBack with their Westpac credit or debit cards,” said Angus Muffet, General Manager of ShopBack Australia.
“With Australians paying close attention to their spending at the moment, we plan to roll out new features for this partnership over time to save them money on everyday purchases,” said Mr Muffet.