Stanbic IBTC to boost cross-border trade with PlusReward

Stanbic IBTC Holdings PLC has launched a loyalty scheme that provides exclusive discounts and offers to selected merchants and customers across the African continent tagged PlusRewards.

The financial powerhouse said it forms part of its effort at boosting cross-border trade and payment across Africa. 

The scheme, it added, is targeted at trade merchants and cardholders across 14 African countries and it seeks to reward the financial institution’s customers. 

Chief Executive, Stanbic IBTC Holdings PLC, Dr. Demola Sogunle, reiterated the importance of cross-border transactions as a major requirement for promoting regional integration and development across the continent. 

The scheme, according to him, also offers Stanbic IBTC cardholders a lot of convenience, ease, and more purchasing power.

He said, “We will continue to offer support to merchants and customers across the continent because cross-border trade drives the growth of the economy. Under the PlusRewards scheme, customers can enjoy their travels and holidays without fear of carrying huge amounts of physical cash. 

“The PlusRewards scheme enables merchants and customers to explore, shop, and pay less using their payment cards across selected merchants. On Wednesday, 01 December 2021, the following countries went LIVE with the PlusRewards programme – Nigeria, Tanzania and Zimbabwe.11 more African countries will come onboard within the next few months. For merchants and businesses, the PlusReward offers customers the opportunity of selling their products, thus exposing them to new markets.”

For merchants that seek to benefit from the PlusReward scheme, Sogunle said, “Intending businesses must use the Stanbic IBTC Point of Sale (POS) devices in their stores, display the PlusReward collateral on their establishment, provide exclusive discounts and benefits to Stanbic IBTC cardholders who visit their stores across the 15 African countries as well as complete a confirmation letter to highlight the benefits they will be offering and the duration period.”