A new cashback scheme is offering a “new way” to buy.
Cashback, launched on Friday by Citibank and Visa, aims to encourage Australians to shop and save more.
The new service, which will be rolled out in the coming months, aims for shoppers to earn more by shopping for less and saving more.
“Cashback is a new way to shop for Australian consumers, which means customers are no longer limited to spending $20 a day on things like groceries, clothes, and a home, or $1 a week on the supermarket or gas station,” Citibanks chief financial officer Craig Smith said in a statement.
“It’s about finding the lowest price possible to spend and to save.
Cashback will provide the savings, and it’s about having a great experience shopping and having fun.”
For the first time, cashback offers will be available to any Australian, not just those in the top five per cent of incomes.
It will be a “very flexible way to save” for people who are looking for a way to spend more money, Mr Smith said.
“We want to offer a very flexible way of shopping, so we don’t want people to be restricted to the high end of the income scale,” he said.
The first cashback program, which has been launched for consumers in the US and UK, was initially rolled out last year.
Cash back offers have also been offered by Visa, Mastercard and American Express, and are set to expand in the months ahead.
Citibank said it had a “huge” number of users, and had been able to reduce the cost of its online shopping by up to 80 per cent by using the service.
“For the past year, Citibanking has been working hard to offer consumers a new and flexible way for them to save money,” Mr Smith added.
“Citbanking’s goal is to help our customers save more money every day by giving them the option to shop with a new, more flexible way.”
In doing so, we’re working to build on our reputation as a leader in saving money and creating a better way for consumers to shop, while offering them the opportunity to do so in a way that is both fun and affordable.
“In Australia, the new service is available to those in households earning $130,000 or more, and for consumers earning more than $180,000.
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