SME lender launches offer in partnership with payments platform pay.com.au
Self-employed borrowers with non-bank lender RedZed can now earn rewards points on their home and commercial loans, after the Melbourne-based lender launched a partnership with payments platform pay.com.au on Tuesday.
New and existing RedZed customers can opt in to earn PayRewards Points, though an additional interest rate applies. RedZed said there are no earning caps or minimum spend requirements, with a borrower holding an average $800,000 balance over a year able to earn up to 200,000 points.
Points can be redeemed against business expenses and bills, or transferred to 17 airline and hotel partners including Qantas Business Rewards and Singapore Airlines KrisFlyer.
“Managing cash flow is a top priority for self-employed Australians,” said Grant Austin (pictured, right), chief executive of pay.com.au, which has processed more than $10 billion in business expenses in the past 12 months. “We’re excited to partner with RedZed to extend the benefits of our PayRewards ecosystem to their customers, giving them another opportunity to earn rewards from existing financial commitments that can be used for business expenses, everyday purchases or a well-earned holiday.”
Borrowers who opt in to the PayRewards Program pay an extra 0.3% on their interest rate, and in return can earn up to 25,000 points a year for every $100,000 of loan balance.
RedZed billed the offer as a market first, noting non-banks have traditionally competed on interest rates. The launch marks its 20th anniversary, with the lender reporting $15 billion lent to more than 36,000 self-employed Australians since 2006.
To be eligible, borrowers need a pay.com.au membership and a loan that is not in default or hardship. Commercial SMSF loans and RedZed Specialist Solutions loans are excluded. Borrowers can opt in on individual loan splits and cancel at any time, which removes the loading while keeping any points already credited.
It follows the lender’s largest-ever brand campaign featuring Dougie the pony and its move to name NRL legend Billy Slater as brand ambassador.
“Our customers are small business owners who work incredibly hard to build something of their own, and we’re always looking for ways to give them more value and support them beyond the loan itself,” said Natalie Irvine (pictured, left).
“Our partnership with pay.com.au is another way we can reward our customers while continuing to do what RedZed has done for the past 20 years: back self-employed Australians and the businesses they’ve worked so hard to build.”
SME lenders turning to points
Points on lending are not entirely new in the non-bank space.
In March 2026, Prospa struck a Qantas Business Rewards deal for SME loans.
Prospa’s model works differently. Borrowers receive a one-off credit of one Qantas Point per dollar funded, capped at 500,000 points per loan. They pay for it through a higher origination fee rather than an ongoing rate loading. Details are on Prospa’s Qantas Points business loans page.
