eBucks has paid out over R20 billion since inception
First National Bank’s (FNB’s) eBucks rewards programme has been announced as the Best Loyalty Benefits in a Financial Product at the 2024 International Loyalty Awards. The awards recognise excellence and innovation among brands that go beyond expectations to create engaging loyalty programmes in their industry.
Pieter Woodhatch, eBucks Rewards CEO says, “We are honoured to receive this recognition once again as it confirms the value we are providing to our customers. eBucks is central to the integrated value we offer across FNB and RMB Private Bank and the way we shape behaviour to help customers better manage their money. We’ll be announcing new ways in which customers can maximise value in a few weeks’ time and look forward to continuing to play a pivotal role in minimizing household expenditure of our customers and adding value that matters. Ease of use as well as more value for all customers is our anchor promise to customers.”
Since its inception, eBucks has paid out over R20 billion and has an average earn-to-spend ratio of 96%, with most customers spending their eBucks within 30 days. Over 7 million of South Africans continue to rely on eBucks rewards programme to alleviate financial pressures for necessities such as fuel, food, travel expenses, health and beauty, airtime, data and more.
Zamabomvu Ngubane, FNB eBucks Rewards Head, further highlights, “During periods of heightened living expenses and economic strain on both households and businesses, rewards play a significant role for customers. The high levels of participation among our customers is testament to the investment we have made and like-minded partnerships that we have embarked on to the benefit of our valued customers.”
FNB is not new to global recognition this year as it was named the Strongest Brand in South Africa by Brand Finance in 2024. The eBucks Rewards programme has previously won the following awards at the global stage: Best Use of Technology (2022 & 2023), Best Programme in Middle East 7 Africa (2022&2023) and Best Long-Term Rewards programme (2023).
“We are encouraged and look forward to continuing providing our customers with tailored value-added solutions for their specific needs and thank our partners for continuing to support our efforts to provide a unique customer experience, helping them stretch their Rands even further over these times,” concludes Woodhatch.
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