Everyday business spending can quietly add up. With Prospa Rewards switched on, the eligible payments you already make can earn Prospa Points – and those points can be redeemed for gift cards that go straight back to work in your business.

This guide explains how to earn and redeem Prospa Points for gift cards, the many ways gift cards can support your business – from stocking up on supplies to thanking customers and recognising your team – and a few tax and record-keeping things to keep in mind.

How to earn Prospa Points that can be redeemed for gift cards

There are two ways to earn Prospa Points. The first is through a Prospa Business Account: switch on Prospa Rewards to earn 1 Prospa Point for every $1 paid on eligible payments via BPAY, bank transfer or your Prospa Visa Business Debit Card. Fees apply.

The second is by linking any Australian-issued Amex, Visa or Mastercard you own to pay business bills through Prospa – even when card payments aren’t usually accepted by suppliers. You can earn 1 Prospa Point for every $1 you pay, and if you use a rewards card like Amex, you can earn your card’s reward points on the same payment too. Fees apply.

Either way, the aim is to earn points on the eligible payments your business already needs to make, rather than increasing spend for the purpose of earning rewards. Before changing how you pay suppliers or bills, consider the applicable fees, your cash flow and whether the payment method suits your business.

Redeeming points for gift cards

Once you have built up a points balance, you can redeem Prospa Points for a range of gift cards from brands you likely already know and use. The options available may vary over time, so it is worth checking what is on offer when you are ready to redeem – find out what gift cards you can redeem at Prospa Rewards.

Gift cards are a simple, flexible way to put your points back into your business. They can be used to cover everyday essentials, shared as a thank-you, or set aside for a specific purpose – whatever suits your needs at the time.

Ways gift cards can support your business

Redeemed gift cards could do more than you might think. Here are some common ways small businesses put them to work:

  • Reinvest in everyday essentials. Use gift cards for office supplies, tools, tech and stock from brands such as JB Hi‑Fi and Mitre x10, so your points can be redeemed for gift cards that may be used towards purchases your business already needs to make.
  • Recognise your team. A gift card for a birthday, a thank-you after a busy period, or a small gesture for reaching a milestone can help people feel valued.*
  • Say thanks to customers and clients. A thoughtful gift card can be a practical way to show appreciation to customers or referrers.
  • Run promotions or competitions. Gift cards make handy prizes for social media giveaways, customer competitions or referral incentives.

Because gift cards can be used in so many ways, it can help to plan your redemptions around what your business actually needs at the time, rather than redeeming all at once.

*Gift cards and similar non-cash benefits given to employees may have tax implications, including possible fringe benefits tax (FBT). Treatment depends on the value, frequency and circumstances of the reward, and exemptions such as the minor benefits exemption may apply in some cases. Always speak with your accountant before providing gift cards to staff.

Making the most of your points

A few simple habits can help you make the most of your Prospa Points:

  • Track your points balance so you know what may be available to redeem.
  • Plan redemptions around genuine business needs – supplies, customer gifts or team recognition.
  • Keep records of any gift cards redeemed or provided to staff or customers and clients.
  • Be mindful of any tax implications and always speak to your accountant if you’re unsure.

Gift cards redeemed with Prospa Points are a flexible way to put everyday business spending back to work. Switch on Prospa Rewards and start earning Prospa Points on eligible business payments to redeem for gift cards. Fees, eligibility and terms apply.