‘You may be missing out on extra value’: How modern rewards programs are helping businesses get more from every dollar spent
Choosing the right rewards program for your business can be a game-changer.
Running a business means there’s always something more urgent demanding your attention. Reviewing the best reward programs to check if you’re maximising your benefits often falls to the bottom of the list.
“You may be missing out on additional value and benefits simply because you haven’t looked at what’s available,” says Stephanie Andrews, head of loyalty, Visa Australia, New Zealand and Pacific Islands.
“Most business owners are focused on running the business day to day, but there can be meaningful savings, rewards and benefits available through programs you’re already eligible for.”
Loyalty is evolving
For years, business rewards were largely associated with travel points and flight redemptions. While these remain popular, today’s programs increasingly focus on helping businesses save money, access relevant offers and get more value from everyday spending.
“Business owners often think about rewards in terms of holidays or flights,” says Andrews. “We’re now seeing a broader range of programs designed to help offset everyday business costs through discounts, offers and other practical benefits.”
CommBank Yello for Business is one example of how loyalty is becoming increasingly embedded within everyday financial services. Rather than the traditional points earned on credit cards, the program rewards customers for their banking relationship, with benefits tied to account activity and product holding.
Customers can access practical discounts and offers from partners across categories such as accounting software, fuel, technology and office supplies, helping businesses reduce costs on the products and services they need in their business.
For financial institutions, this creates a simple way to deepen engagement and strengthen customer relationships by making loyalty more relevant, tangible and value driven.
Simpler, more seamless rewards
A major shift is the move away from physical cards, vouchers and complex redemption processes.
Increasingly, rewards and offers are linked directly to payment cards and digital channels, allowing benefits to be applied automatically when eligible purchases are made.
“Time-poor business owners don’t want additional complexity,” says Andrews. “The more seamlessly rewards can be integrated into the way you already transact, the more valuable those programs become.”
This is driving growth in card-linked rewards and offers, where rewards are connected directly to payment transactions rather than requiring membership numbers, coupons or separate apps.
By connecting merchants, financial institutions and customers through Visa’s network, these offers can be delivered through trusted banking and loyalty channels at scale.
Finding the right program
The best rewards program depends on a business’s goals.
“The first thing is to think about what you’re trying to achieve,” says Andrews. “Are you looking to reduce costs, earn travel rewards or access discounts on business services? Different programs solve different problems.”
She recommends reviewing available options regularly rather than taking a set-and-forget approach. You may already have access to some great offers, but just haven’t found them.
“The market continues to evolve quickly. Spending a little time understanding what’s available could uncover benefits that make a real difference over time.”
As rewards become more personalised, automated and embedded into everyday payments, businesses have more opportunities than ever to turn routine spending into ongoing value.
