Qantas Marketplace started allowing customers to purchase gift cards with money (not just points) late last year. Previously, you could only ever earn 3x Qantas points per dollar but now they've increased this to 4x to 10x points. Most gift cards earn 4x points which is still a pretty respectable amount for those where there aren't really any better offers consistently available to the public (e.g. WISH, Bunnings etc).
Here are some examples:
The points are credited about three days after your purchase.
Instant cashback at 3% or potential payoff in QF points at 4% (if you value QF point as 1c/p) with WISH, interesting choice. Personally, the 3% wins out, as QF points won't beat a savings account but good deal nonetheless.