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Qantas Cash is a functionality on Qantas Frequent Flyer membership cards. The functionality enables members to transfer money onto their Frequent Flyer card and use it for shopping at 35 million locations where MasterCard is accepted.
Frequent Flyer members have the opportunity to earn Frequent Flyer points on eligible transactions and with the card doubling as a travel card, members have the ability to withdraw cash and foreign currency from over 2.1 million ATMs in Australia and overseas.
To develop the product, Qantas needed to partner with an Authorised Deposit-taking Institution (ADI) which has appropriate credentials and capabilities. That’s where Heritage came in.
Heritage is an issuer of the cards, holds all monies loaded onto them, and looks after settlement as the cards are used and then reloaded.
The partnership provides a new business stream for Heritage and generates additional income for the Bank, helping us to continue to provide great products and services to our customers.
For more information visit the Qantas Cash website.
Heritage Bank has a number of other innovative relationships. Check out our latest project with Visa and MJ Bale called Payweave.