Banked, Chemist Warehouse and ShopBack launch Australia's first In-Store Pay by Bank with Rewards program

• Australian consumers can now Pay by Bank in-store at Chemist Warehouse via the ShopBack app, while earning rewards.

• Banked’s Pay by Bank is now the preferred debit option on ShopBack Pay, helping users avoid payment fees at 2,500 participating merchants across Australia.

• ShopBack is Australia’s leading online and in-store rewards solution, empowering over 3 million users to earn rewards and save on everyday purchases.

• Pay by Bank offers a fast and secure way to pay directly from a bank account.

• This partnership reinforces Banked’s position in the Australian market for account-to-account payments, and its commitment to building the leading global Pay by Bank platform.

Sydney, Australia, 30 April 2025: Banked, the leading global Pay by Bank provider, has partnered with Australia’s top retail pharmacy group Chemist Warehouse, and leading shopping, rewards, and payments platform ShopBack, to launch the country’s first in-store Pay by Bank experience that also allows consumers to earn Cashback and rewards.

The new initiative addresses the growing concern of rising card surcharges — highlighted by recent RBA data showing a 33.3 per cent increase in eftpos debit fees in the last quarter alone, and a 2024 analysis revealing that Australians lose nearly a billion dollars annually to these fees. Chemist Warehouse is taking a proactive stance to establish a lower cost payment system ahead of an expected move by the RBA to ban debit card surcharging, as outlined in last week’s Federal Budget.

Pay by Bank with Cashback at every Chemist Warehouse

Now available at every Chemist Warehouse payment terminal across Australia, the seamless experience combines the speed and security of Pay by Bank with the value of ShopBack rewards, all within a single app. The solution enables customers to Pay by Bank via the ShopBack app using a QR code on Chemist Warehouse’s Quest payment terminals.

Customers can easily link their preferred payment methods, including Banked's Pay by Bank, to their ShopBack account. By opting to use Pay by Bank, customers avoid payment fees at any merchant, and enjoy the convenience of direct bank payments. They can also offset purchases with existing ShopBack Cashback, and earn Cashback on their Chemist Warehouse purchases.

Brad Goodall, CEO and co-founder of Banked, said, “This is a leading global use case of payment and loyalty working together as one seamless experience for the consumer. We are proud to be partnering with Chemist Warehouse and ShopBack to give Australian consumers better value from their shopping experiences, while also providing Chemist Warehouse with a simpler and cost-effective way to introduce customer rewards.”

Jack Gance, founder of Chemist Warehouse, added, “Combining the use of ShopBack’s Cashback was a natural evolution of our plan to implement an in-store Pay by Bank solution and reduce the cost of transactions for customers. We are a business built on providing great value for everyday Australians, and it is important that we have a competitive, low-cost payment system. The simplicity, security, and low cost of Pay by Bank, layered with ShopBack’s Cashback rewards, meets our business objectives and gives our customers greater choice and value. We are proud to lead the retail industry with this innovative, all-in-one solution.”

Banked’s Pay by Bank now providing payments with zero additional fees via ShopBack Pay merchants as preferred debit option

Through this partnership, from April 29 ShopBack will also introduce Banked’s Pay by Bank as a surcharge-free payment option with zero additional fees within its app as the preferred debit payment method. This means Australians will no longer pay a surcharge on their daily shopping, cup of coffee or work lunch at any of the 2,500 merchants where ShopBack Pay is accepted such as New Balance, Chatime, Sushi Sushi, and Sharetea.

"Our business model is built on providing rewarding experiences and value for our users and brand partners," said Julian Foo, ShopBack's General Manager of Financial Services. "Brands partner with us for increased traffic, and we reinvest that into operations and Cashback for users. Introducing Pay by Bank allows us to enhance our offerings further, bridging the online and in-store ecosystems. This gives our users the flexibility of choice in payments. For brands, ShopBack's rewards and demand generation tools empower us to drive our partners traffic and sales, while helping them better understand their customers."

Australian ShopBack users can easily connect to Banked’s Pay by Bank by selecting ‘Securely Add Bank Account or PayID’ within the ShopBack app. After enabling ‘PayTo’ in their banking app, all future payments through ShopBack Pay can be deducted seamlessly straight from their chosen bank account.

ShopBack currently partners with 2,500 brands across Australia to give consumers access to Cashback on their daily purchases — from coffee, to clothing, and even petrol.

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Media contact:

Anna Kenneally, Communications Director, Banked; +61 433 271 700

anna.kenneally@banked.com

About Banked

Banked is a solution that delivers infrastructure to banks, financial technology platforms, and merchants to scale account-to-account payments globally. Its flagship product, Pay by Bank is live in the US, Europe, the UK, and Australia, and is backed by some of the largest financial institutions in the world. With consumer experience, security, and low cost to merchants at the heart of Banked’s global account-to-account payments network, a real-time alternative payments experience is now a reality for merchants and their customers. The company operates globally with offices in Palo Alto, London, Melbourne, and Vilnius. For more information, visit www.banked.com.

About ShopBack

The ShopBack Group is Asia-Pacific’s leading shopping, rewards, and payments platform, serving over 50 million shoppers across 12 markets. In 2023, the Group expanded its offerings into Germany, signalling its entry into the European market.

Driven by the vision to be the world's most rewarding way to shop, ShopBack is dedicated to saving members money and time, while delivering delightful experiences with every purchase. The platform also enables merchants and brands to engage with their members in a cost-effective manner.

Founded in 2014, ShopBack now powers over US$4 billion in annual sales for over 20,000 online and in-store partners. Facilitating upwards of half a million transactions daily, ShopBack continues to provide value to both members and merchants through its innovative offerings. Notably, its payment solution, ShopBack Pay, offers members a convenient and rewarding payment option at checkout.