Stanbic IBTC set to boost cross border trade with PlusReward

As part of its effort at boosting cross-border trade and payment across Africa, Stanbic IBTC Holdings Plc, a member of Standard Bank Group, has recently launched a loyalty scheme that provides exclusive discounts and offers to selected merchants and customers across the African continent tagged PlusRewards.

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

Demola Sogunle, Chief Executive, Stanbic IBTC Holdings PLC, reiterated the importance of cross-border transactions as a major requirement for promoting regional integration and development across the continent. He highlighted that the PlusRewards offered African trade merchants the opportunity to access new markets while reducing the barriers associated with it. The scheme also offers Stanbic IBTC cardholders a lot of convenience, ease, and more purchasing power.

Sogunle 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 amount of physical cash.

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“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,” he added.

He further mentioned that the new product would promote solidarity, access to new markets, and peace and stability across the continent while advising new and existing customers to visit the firm’s website for more information. He urged them to take advantage of the PlusReward Loyalty Scheme.
For merchants that seek to benefit from the PlusReward scheme, Sogunle noted that “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”.

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