Westpac: Business owners are highly engaged

Each year Canstar researches and rates credit card rewards programs available for Australian businesses, for both cash rewards and frequent flyer rewards.  Our 2015 report rates 33 credit card rewards programs from ten providers to determine which ones offer outstanding value for businesses. This research has been done across three separate business spending levels, being $60,000 per annum, $120,000 per annum and $250,000 per annum and Canstar is pleased to highlight Westpac?s Altitude Business Platinum Rewards Amex program as offering outstanding value for both cash and frequent flyer rewards across all levels of spending.

Canstar caught up with Westpac?s Head of Credit Cards, Gary Owens, for a quick Q&A on popular rewards and staying ahead of the competition.

Q: There are a range of rewards available to business owners – what are the more popular rewards that business owners tend to choose? 

A: The most popular rewards that business owners tend to choose are gift cards. We have one of the largest selection of gift cards on our rewards program and this gives business owners the flexibility to redeem for items that best suit their needs. Customers can also redeem for travel, merchandise, frequent flyers etc.

Q: Rewards points on the Westpac Altitude Business Platinum Rewards Amex are uncapped – a significant benefit for business owners. Do you receive good feedback on this from customers?

A: Definitely. Our business customers are highly engaged with the Altitude rewards program and want to be rewarded for every dollar they spend on their card.

Q: The credit card rewards market is competitive, for both consumers and businesses. How does Westpac refine its offering to make sure it?s ahead of the competition?

A: We continuously monitor our rewards program to ensure that we adapt to the changing demands of our customers. As a result, we have one of the richest rewards program in the market, featuring on trend redemption items from brands such as Dyson, Apple, and GoPro.

However, to stay ahead of our competition, we also look outside of Australia and the financial services industry and see what innovations there are in loyalty programs around that world that we can adopt within Westpac.

Q: There are a number of complimentary insurances as part of the Westpac Altitude Business Platinum Rewards Amex. Why so many?

A: Our Altitude Business Platinum customers have the same insurance coverage that we offer to our premium consumer customers in addition to business-related insurances, such as unauthorized transaction insurance. Our customers value the insurance covers that we provide so we believe that it?s all part of the great customer proposition.

Canstar congratulates Westpac on its five star rating.