Interesting move by one of the Big 4...
Commbank’s generous move this Christmas
Brett Lackey Daily Mail Tues 17th Dec 2019
Australians spending up big this Christmas could see some of that money returned to them through a program by CommBank.
The latest feature of the major bank's app will reward customers who use their CommBank credit or debit Mastercard to purchase items such as groceries or takeaway meals.
There are about 50 participating stores where customers can take advantage of the offer including Myer, Coles, Caltex, JB Hi-Fi and Menulog.
Executive general manager of everyday banking, Kate Crous, said the company was excited to implement the program in time for Christmas.
'CommBank Rewards is designed to give customers relevant and personalised offers for what they regularly spend their money on,' she said.
'It also has a simple redemption process – it's as easy as activate, spend money and receive cash-back.'
Customerswanting to use buy-now pay-later services, however, such as Afterpay areadvised that they would not be able to receive the cashback.
Not sure I'd call it 'generous'...more like defensive given the way in which they've singled out BNPL users as not eligible for the cash refund!
But does suggest BNPL is well and truly on the banks' radars and of concern...