why cashrewards is closing

Cashrewards is closing abruptly after more than a decade of operation, with no official explanation provided by the company. It ceased making offers across its website, app, and browser extension starting September 8, 2025. Users are urged to withdraw any earned cashback by October 24, 2025, as after this deadline, withdrawals will only be processed manually. The platform shut down unexpectedly, leaving nearly 2.5 million Australian users unable to access some digital wallet features, like gift cards stored in the app, although unused gift cards will still be honored. The closure blindsided many users who benefited from the cashback program, which returned $165 million in savings over its life and helped generate $4 billion in sales for retailers. The company was founded in 2014 and became a market leader in Australia, partnering with over 2,000 retailers. Speculation about the closure includes possible business model failures or strategic refocusing by its parent company ANZ, but no definitive reason has been publicly stated.