A 15-year-old entrepreneur has devised a new way for Australian drivers to save money on tolls in Brisbane, Sydney and Melbourne.
Brisbane student Henry Coward launched Tollz, a cashback service that gives drivers money back in tolls when they shop at participating retailers.
Retailers include Big W, HelloFresh, Subway, Virgin, Liquorland, etc. Cashback will be applied to the driver’s designated Linkt fee account.
Coward started the business after winning the University of Queensland’s Young Entrepreneurship Competition, which asked participants to find solutions to local problems.
“My family uses Brisbane’s toll roads a lot, driving to work and sending me and my brother to extracurricular activities,” Coward said.
“Toll roads are a great way to save time and stress, but we also know they come at a cost. It’s about making these roads accessible to as many people as possible.”
Coward said the idea “was a no-brainer” when he realized he could cover tolls through a cash-back program while supporting local businesses.
“Dad and Mom have already earned hundreds of dollars worth of fare credits, which means the next 30 paid trips will be free. All they had to do was visit Tollz.com.au. All they had to do was sign up and buy clothes, coffee, food and travel goods,” he said. “They were spending money anyway.”
The startup has partnered with cashback provider Super-Rewards and currently has over 300 users. Coward plans to extend the idea to public transport in the coming months, offering cashback with Opal, Myki and Go cards.
How does it work?
Australian drivers must create a Tollz account and link a Linkt paid account.
You can then earn cash back by shopping at participating retailers using the Tollz website, promotional emails or linked credit card.
The amount of cashback you can receive depends on the merchant. For example, Big W currently offers him 1.75 percent cashback with a minimum spend of $50.
Cashback will be credited to your Linkt account on the next month’s payment date.
Follow Yahoo Finance Facebook, LinkedIn, Instagram and twittersubscribe for free daily newsletter.
