When customers shop with one of the 800-plus participating brands through Raiz Rewards, they can earn cashback which is then invested directly into their Raiz Invest accounts.
Now the program has been extended to the cashback shopping app Pokitpal, which could see customers save and invest when they shop with a Raiz Rewards partner.
Brendan Malone, Director and Joint CEO of Raiz Invest, said the 'exciting' offering amplifies the already compelling and engaging business model which has seen customers save several millions of dollars.
"Raiz Rewards connects customers to their favourite brands allowing them to earn 'cash back' when they shop, directly investing the funds into their Raiz Invest Account or their Raiz Invest Super Account," Mr Malone said.
"Since our inception, we continue to focus on delivering the most engaging and rewarding experience for our customers, who trust us for consistently delivering a market leading service."
According to a Raiz spokesperson, some users have "literally made thousands of dollars from Raiz Rewards".
"It is literally cash back for zero effort," a Raiz spokesperson told Savings.com.au.
"You can reward yourself for your normal shopping purchases you would make anyway. It is also a great way to boost your savings/investment balances with Raiz."
Customers can shop in store or online by linking their preferred Visa, Mastercard or Eftpos card to their Raiz Rewards account.
The feature also has new functionality including enhanced search, maps to find store partners, and real-time notifications to know when rewards have been earned.
When rewards are earned through the app, customers will see actual cash deposited into their investment accounts - meaning, it's not a points system which is commonly seen with rewards programs.