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An electronic gift card can be used to purchase books, audio books, eReaders, CDs, DVDs and calendars, but cannot be used to purchase eBooks.
From the description looks like they get issued instantly - cashrewards may/may not get paid on top of orders paid with gift card but 10% off is better than 5.4% cashback. Great as Bookworld is often on par price wise with the other big online bookstores (given it's owned by Booktopia), stack with Booko free shipping and is a very attractive deal.
Ended?