Financial services Group Absa announced that South Africans on its Rewards programme can now instantly redeem their cash rewards on the mobile banking platform, Absa.mobi.
Through the Absa.mobi site, Absa Rewards members will not only be the first in South Africa to instantly redeem their cash rewards on cellphone banking, they can also view their cash balance anytime, anywhere.
Absa was also the first to enable its internet banking customers to seamlessly redeem their cash rewards balances online into Absa investment products, Absa transactional accounts, charities, shopping mall vouchers and airtime vouchers.
Arrie Rautenbach, Absa’s Head of Retail Banking, described the announcement as truly consumer-led. “Not only is Absa one of the only banks in South Africa to introduce a rewards programme that provides real cash back on every swipe, including debit cards, we now proudly offer our customers the convenience of earning these rewards in cold, hard cash and doing so at leisure, whenever and where ever, using a mobile phone.”
“As we have seen with our successful online redemption offer, where Absa Rewards members have to date redeemed a total of over R10 million online, consumers appreciate the ability to redeem their cash-back rewards at any time, offering them even greater control of how they choose to use their rewards.”
Coinciding with the new redemption option, Absa is offering new customers who open an Absa Gold Value Bundle Account before 31 July 2013 free Absa Rewards subscription for a year and a personal switching assistant for three months to help customers switch their salary and debit orders.
Additionally, Absa also extended its partnership with Pick ‘n Pay that offers 5% extra cash when converting Absa Rewards to Pick ’n Pay Smart Shopper points until the end of September 2013.
Rautenbach noted that as a relatively new entrant in the market that has been consistently ranked among the top two best reward programmes in South Africa since inception, the growth of the bank’s Rewards programme was phenomenal.
“Giving our million plus Absa Rewards members unrivalled choice and instant fulfilment over where and when they redeem their cash rewards is a simple, straightforward way for us to enhance their redemption experience, while further strengthening our loyalty offer to deliver on our brand promise to make our customers’ lives much easier,” concludes Rautenbach.
