Unlike CBA and Westpac, ANZ does not have a dedicated rewards...

Unlike CBA and Westpac, ANZ does not have a dedicated rewards section or any rewards for its customers. Both CBA and Westpac provide its members with cashback offers through their app or website. ANZ does not have this whether it is debit or credit card.

ANZ investment totalling 19% of CRW makes it the top 2 holders. Common sense yells out that this is a strategic plan. “Cashrewards also believes that ANZ’s investment provides the basis for the potential development of a strategic relationship in the future. As at the date of this Prospectus, no strategic relationship has been agreed between Cashrewards and ANZ and whether one develops in time will depend on finding a way to work collaboratively to benefit both companies and their customers.”

Although no real plan has been put into place, in a world of competition and consumers striving for better deals, one can say that ANZ is looking to find a way to reward its members. What I believe is likely to happen, or hope would happen, is that Cashrewards’ 'engine' is implemented into ANZ, in similar ways that Cashrewards implemented the ‘in-store cashback scheme with eligible Visa/Mastercards”. As of June 2020, there are only 125,000 members that linked their cards for in-store offers.

ANZ mainly operates in Australia and New Zealand but has many branches in other countries. As of 2018, ANZ has around 8 million individual and business customers globally (unsure about AU and NZ). What I can see happening is, and I am LT betting on, is two things:
1. ANZ implements Cashrewards in-store cashback on their app and links all their member's credit/debit card to the expanding network of local cashback; and
2. ANZ incorporates Cashrewards schemes into their members' credit/debit cards for online shopping, providing them with a direct rewarding scheme, much larger than other big banks.

Either way, exposure to ANZ’s network is a game changer. Not only will this likely open the doors to New Zealand, but Cashrewards could improve their brand image as ‘reliable, scam-free, and Aussie’. Listing on the ASX should be a big step in building customer confidence but joining with ANZ is a real milestone.

Not saying that ANZ will definitely partner with Cashrewards, but there is a high chance that it would happen. But with 19% stake, I waging my bets hard.

All IMO. DYOR.