True Rewards

What True Rewards does

True Rewards is an Australian digital gift card and rewards platform that operates as a licensed subsidiary of iGoDirect Group (ABN 17 110 897 320), headquartered in Melbourne with a 1-10 employee footprint. The company serves two customer segments: businesses seeking efficient employee rewards, customer loyalty programs, and incentive distribution; and individual consumers seeking digital gifts for personal occasions such as birthdays, anniversaries, and last-minute gifting. Its core product is a Digital Visa prepaid card enabled by proprietary Web-to-Wallet™ technology that links cards directly to Apple Pay and Google Pay in under one minute, leveraging tokenised security infrastructure from Apple and Google. The platform also aggregates 100+ Australian retail brand eGift cards (Amazon, Woolworths, JB Hi-Fi, Myer, Bunnings, Harvey Norman, IKEA, and others) and offers flexible 'swap' cards (Choice, Action, Splurge, Indulge, Thrill, WFH) that allow recipients to exchange for preferred retailers.

The company monetises through transaction fees on gift card sales and B2B reward distribution, with consumer pricing ranging from $5 to $1,000+ per card depending on retailer and business solutions priced on a quote-based, pay-as-you-go model. Go-to-market operates through three concurrent motions: a self-serve e-commerce platform (product-led growth), a business sign-up funnel with ABN capture and demo booking (enterprise field sales), and an API for Business enabling enterprise integration into client platforms (API-first). True Rewards claims to be Australia's only Prepaid Card Issuer and Distributor offering the Web-to-Wallet experience, a regulatory/licensing position that forms the backbone of its competitive differentiation. The geographic footprint is primarily Australia with expansion to New Zealand, and the company has not disclosed external funding, revenue, or M&A activity.

As a subsidiary of iGoDirect Group rather than a venture-backed standalone, the company operates in a capital-efficient, bootstrapped manner. The product surface has expanded materially with multiple themed Digital Visa variants (Christmas, Birthday, Thank-You, Fuel, Dining, Grocery, Entertainment, Kids, Teens) and a growing retail partner network, suggesting active investment in customer acquisition and brand breadth. However, no revenue figures, headcount growth, or capital infusion signals are disclosed, leaving the financial trajectory largely opaque to external observers.

Name

True Rewards

Legal name

True Rewards

Website

https://truerewards.com.au

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

True Rewards is an Australian digital gift card and rewards platform, licensed to iGoDirect Group, that issues Digital Visa cards via proprietary Web-to-Wallet™ technology integrating with Apple Pay and Google Pay. It serves corporate reward programs and individual consumers, aggregating 100+ Australian retail brand eGift cards through a self-serve store, business portal, and API.

Ownership category

akta.pro rank

Product category

Digital Gift Card and Rewards Platform

NAICS

Gift, Novelty, and Souvenir Retailers (45942)

akta.pro primary industry

Multi-Merchant / Shopping Mall Gift Cards (FSAMANAC)

akta.pro secondary industries

Closed-Loop Gift Cards (Single-Merchant) (FSAMANAB), Rewards, Incentives & Gift Card Program Services (MPAAAIAG)

Keywords

• Digital gift cards
• Corporate rewards platform
• Prepaid visa cards
• Employee incentive programs
• Retailer egift marketplace

Headquarters

HQ city

Melbourne

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Digital Commerce or Content

Cost components

Technology or R&D, Operations, Marketing or Sales, Personnel, Infrastructure

Revenue model

1. Gift Card Sales: Revenue generated from selling digital gift cards to consumers and businesses. Transaction-based model where True Rewards earns a margin or transaction fee on each gift card sold. Cards available from $5 to $2,000+ depending on retailer.
2. Corporate Rewards Solutions: B2B revenue stream providing businesses with tools to send bulk eGifts, manage rewards programs, and integrate via API. Businesses pay on-demand for reward distribution.
3. Choice/Swap Card Revenue: Flexible gift cards (Choice, Action, Splurge, etc.) allow recipients to swap for their preferred retailer, creating stickiness and potential margin optimization across the merchant network.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

True Rewards operates a digital gift card and rewards platform offering prepaid Digital Visa cards with proprietary Web-to-Wallet™ technology for instant Apple Pay and Google Pay integration, a marketplace of 100+ Australian retailer eGift cards, flexible Choice/Swap gift cards, and an API for Business enabling enterprise corporate rewards programs. The platform delivers digital gift cards instantly via email or SMS for both personal gifting and corporate employee/customer reward use cases.

Product overview

True Rewards is an Australian digital gift card and rewards platform that operates as a multi-product ecosystem. The core offering consists of three main product lines: (1) True Rewards Digital Visa prepaid cards in various themed designs, powered by the proprietary Web-to-Wallet technology that links cards to Apple Pay and Google Pay; (2) a marketplace of over 200 partner eGift cards from Australian retailers spanning electronics, fashion, grocery, home, beauty, travel, dining, and entertainment categories; and (3) flexible Choice/Swap cards (Choice, Action, Splurge, Indulge, Thrill, WFH) that allow recipients to exchange for their preferred retailer. For business clients, True Rewards provides an API for Business integration enabling enterprise reward programs, bulk sending capabilities, and customisable branded experiences. The company is Australia's only Prepaid Card Issuer and Distributor offering the Web-to-Wallet experience, licensed exclusively to iGoDirect Group.

Differentiator

Problem solved

Functional benefit

Products and services

• True Rewards Digital Visa Proprietary digital prepaid Visa card that uses Web-to-Wallet™ technology to instantly link to Apple Pay and Google Pay. Sent via email or SMS, activated in under one minute, and accepted wherever Visa is accepted globally — online, in-store, and in-app. Available in denominations from $5 to $200.
• Choice/Swap Gift Cards Flexible gift cards allowing recipients to swap the value for up to 4 eGifts from a curated selection of retailers. Available in themed categories: Choice (general), Action (sports/outdoors), Splurge (fashion/lifestyle), Indulge (dining/spa/travel), Thrill (gaming/entertainment), and WFH (work-from-home). Valid for 3 years.
• Retailer eGift Cards Digital gift cards from over 100 Australian retailers spanning categories including electronics, fashion, grocery, home, beauty, travel, dining, and entertainment. Cards can be purchased, personalised, and instantly delivered via email. Most have no expiry and varying denomination ranges.
• API for Business Enterprise API enabling businesses to integrate True Rewards gift card and rewards functionality into their own websites, platforms, or HR systems for bulk rewards management. Supports sending 1 to 1000+ eGifts in seconds, tracking redemption, and full branded/customizable reward experiences.
• Corporate Rewards Business solution enabling companies to send bulk eGifts and Digital Visa cards to employees and customers for rewards programs and promotions. Includes dedicated business accounts with bulk ordering, tracking, and management of digital rewards for corporate reward programs. Quote-based pricing.

Quantifiable outcome

• Cards can be activated in less than 1 minute
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Ten partnerships are on record, tiered parent company, core, key retail partner and network.

• iGoDirect Groupparent companyOthersTrue Rewards is licensed exclusively to iGoDirect Group ABN 17 110 897 320. iGoDirect operates the True Rewards platform as a subsidiary, providing the digital gifting infrastructure and licensing arrangement.
• VisacoreTechnology or IntegrationVisa is the payment network for True Rewards Digital Visa cards. Cards are accepted wherever Visa is accepted globally - online, in-store, and in-app.
• ApplecoreTechnology or IntegrationApple partnership enables Web-to-Wallet functionality for adding Digital Visa cards to Apple Wallet. Leverages Apple Pay's tokenised security infrastructure.
• GooglecoreTechnology or IntegrationGoogle partnership enables Web-to-Wallet functionality for adding Digital Visa cards to Google Wallet. Leverages Google Pay's tokenised security infrastructure.
• Amazon.com.aukey retail partnerChannel Partner/ Reseller/ DistributorAmazon.com.au is a major retail brand partner offering gift cards on the True Rewards platform. Cards can be used to purchase millions of items sold on Amazon.com.au.
• Woolworthskey retail partnerChannel Partner/ Reseller/ DistributorWoolworths is a major grocery retail partner. Gift cards available in $10-$250 denominations with no expiry. Can be redeemed in-store and online.
• JB Hi-Fikey retail partnerChannel Partner/ Reseller/ DistributorJB Hi-Fi is a leading electronics and entertainment retailer partner. Gift cards have no expiry and can be used at 200+ stores and online.
• Myerkey retail partnerChannel Partner/ Reseller/ DistributorMyer is a major department store partner offering gift cards in $5-$500 values, valid for 3 years. Redeemable in-store and at myer.com.au.
• Bunnings Warehousekey retail partnerChannel Partner/ Reseller/ DistributorBunnings is a major hardware and home improvement retailer partner. Gift cards available in $20-$250 denominations for in-store redemption.
• 100+ Australian Retail BrandsnetworkChannel Partner/ Reseller/ DistributorTrue Rewards offers gift cards from 100+ Australian retail brands including Harvey Norman, IKEA, David Jones, Sephora, Rebel Sport, HelloFresh, Kmart, Target, and numerous restaurants. Brands span categories including fashion, electronics, food, home, sports, and entertainment.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Awardco: Employee recognition and rewards platform that combines merchandise, gift cards, and prepaid cards for enterprise clients. Comparable to True Rewards' corporate rewards use cases, though its core focus is employee recognition rather than consumer gifting.

Broad incumbents

• Blackhawk Network: Global prepaid and gift card network that issues, distributes, and processes gift cards across many geographies. Blackhawk is a broader incumbent whose product breadth and merchant relationships dwarf True Rewards, but the categories (digital gift cards, corporate incentives, rewards) overlap directly.
• InComm Payments: Global payments technology company offering prepaid card programs, gift card malls, and incentives solutions. Overlaps with True Rewards in prepaid card issuing and distribution as well as corporate rewards/loyalty programs, but at much larger scale across multiple continents.

Direct peers

• Giftbit: Digital gift card platform targeting businesses with bulk sending, branded reward experiences, and developer-friendly APIs. Closely mirrors True Rewards' B2B reward distribution and API-driven GTM motion.
• Tango Card: US-based rewards and incentives platform (now part of Blackhawk) that lets businesses send digital gift cards and prepaid cards via API. Directly comparable to True Rewards' 'API for Business' and bulk reward distribution product.
• eGifter: Digital gift card platform with a marketplace of retailer cards, group gifting, and API tools for businesses. Shares True Rewards' consumer marketplace + enterprise API positioning.
• Giftcard Partners: Corporate gift card and rewards solutions provider offering bulk digital gift card programs and API integrations. Directly comparable to True Rewards' B2B bulk gifting and branded reward offerings.
• Tremendous: Global payouts and rewards platform offering digital gift cards, prepaid Visa/Mastercard, and donation options via API and dashboard. Comparable to True Rewards on cross-border prepaid Visa issuance, enterprise API, and broad retailer/marketplace coverage.
• Prezzee: Australian-headquartered digital gift card marketplace offering eGift cards from a wide range of retailers and a business rewards platform. Prezzee is the most directly comparable Australian competitor, sharing True Rewards' B2C storefront, B2B bulk gifting, and API-led enterprise GTM motion.
• Rybbon: Digital gift card and prepaid rewards platform focused on survey/research incentives and enterprise bulk gifting. Overlaps with True Rewards' bulk eGift distribution and API-based reward automation.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about True Rewards