Third-Party
Cashreward Max was announcement today and would love to find out more about it. See below:
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-res…
What Is Cashrewards Max?
drmix on 02/07/2021 - 10:41
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It's a scheme to get more people to take on personal debt. The more debt they accumulate the more financial freedom they lose.
Looks to be a credit card (issued by ANZ) with cashback for participating retailers. Not sure what the appeal is because linking your debit/credit card to cashrewards does the same thing.
Wow is that why the share price went from 70c to $1.10. this is APT style gains man
Is this why it went from 70c to 93c yesterday before this announcement?
Cashreward Max was announcement today and would love to find out more about it.
Sounds like a 'paid' service to get higher % of CR on purchases…..
While OzBargainers were focusing on the share price alone they neglected to notice ANZ had a stake from the get go. Wasn't it obvious this would happen? A bank with reward cards investing in a cashback company.
Apparently not.Legit at time of your writing, I'm the only person commenting on share price.
The pros and cons of a bank investment is not clear to me. Care to elaborate?
No you misunderstand. In the countless previous deals and forum posts people always talked about the share price solely.
Having a bank that's been looking to expand their rewards programs invest in a cashback program. Put two and two together? Maybe it just wasn't obvious enough.
No, your view is not clear to me. Let me give examples of pros and cons I see.
The joint agreement does leverage both ANZ and Cashrewards brand. - Pro to both businesses
Cashrewards Max offers ''enhanced cashback offer'' and shorter approval time - Pro to consumers
Who pays for the extra cash back to consumer? The merchant, cashrewards or ANZ? - Con to one of them
@avoidfullprice: No you're still misunderstanding me. When I first saw the Cashrewards prospectus I saw that ANZ had bought about 20% of shares. Knowing that ANZ have a rewards program and knowing they want to expand that program it seemed blatantly obvious to me that they were looking to partner up to offer some joint CR-ANZ rewards card.
So when people were bitching about the CRW share price falling, I noticed CW opened a Sydney CBD office near ANZ and thought… yeah I bet there will be an announcement soon about my suspicion. And yep I was right.
Simple as that. All the technical aspects of that relationship and how it works is not my concern. I suspected there would be a partnership based on the evidence I saw and there was.
@Clear: Your brain works just as mine does 😊 although im not invested nor following CRW . I think its important for us all to discuss our thought processes to aid and assist each other 🤩
Just found that it has gone live but not much detail provided: https://www.cashrewards.com.au/onboarding-cr?itm_source=onsi…
Received an email today. Hadn't heard of CR Max before.
You are receiving this message because we’ve identified that you have an ANZ card linked to your Cashrewards account.
As an ANZ cardholder, you are now eligible for a Cashrewards Max membership.
We are unable to automatically enroll you so if you wish to upgrade to Cashrewards Max, you will need to re-link your eligible ANZ card to your Cashrewards account via Settings or using this link.
If you do not wish to receive access to Cashrewards Max, simply ignore this message.
Hope TA can give us some juicy details