Absa first to give South Africans the ability to redeem cash rewards on a cellphone

Financial services Group Absa today made it possible for South Africans on its rewards programme to further embrace mobile banking; unveiling instant redemption of cash rewards on its mobile banking platform, Absa.mobi, in yet another South African first.

Through the Absa.mobi site, Absa Rewards members would not only be given the ability to be the first in South Africa to instantly redeem their cash rewards on cellphone banking, but have the ability to view their cash balance anytime, anywhere.

Absa also pioneered the ability for 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. “While further distinguishing Absa as being one of the only banks in South Africa to introduce a rewards programme that offers real cash back on every swipe including debit cards, we are proud to be able to reward our customers with 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 reward 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.