Runa, the global digital value infrastructure for instant B2C payments, has announced its expanded partnership with ShopBack. ShopBack offers Australians cashback on purchases at more than 4,000 online, in-store and gift card brands, including household brands like Chemist Warehouse, Amazon, The ICONIC, and eBay.

The global cashback market is set to reach $5.7bn by 2031, and its rising popularity is due to its ability to give consumers greater control over their finances, allowing them to counteract rising costs through the use of instant, easy rewards. ShopBack has given over $190m of cashback to Australian consumers, and Runa has extensive experience in driving innovation in the cashback industry through its global network of over 2,500 merchants.

Marks and Spencer recently recorded a 245% increase in annual gift card revenue, with this being made possible due to its partnership with Runa. Through partnering with Runa, Marks and Spencer was able to tap into the increasingly digitised global gift card market offering a frictionless and instant experience for consumers and businesses

Aron Alexander, CEO and Founder of Runa, spoke positively about the expansion of the partnership. He said: “Expanding our partnership with ShopBack will offer users an even more rewarding experience, redefining the way they shop, store, and save their money. Looking forward, we envision leveraging this partnership to continue driving innovation in the cashback and rewards space.”

Angus Muffet, General Manager of ShopBack, commented: “We’re excited to partner with Runa to expand our cashback offerings for our Australian customers. New collaborations like this demonstrate our commitment to finding new and interesting ways to enhance the shopping experience for our users.”

With Runa’s full-stack offering and expansion into the APAC region, businesses can integrate once and have the ability to send payouts to Australia and 35+ other countries. Global businesses will now be able to offer their customers an expanded range of payout types, including 29 payout types in Australia and 121 payout types in Singapore.

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By GlobalData