Standard Bank is introducing UCount Rewards for Business, an SME-focused spin-off of its long running UCount loyalty rewards system.
The programme has been created specifically for sole proprietors, close corporations and propriety limited companies with an annual turnover of R10 million or less, as well as small agricultural businesses, Standard Bank said.
It allows SME owners access to a number of benefits including card rewards, fuel rewards, retailer rewards and travel rewards.
Members can collect rewards by using their Standard Bank Business Credit, Cheque or Debit Card to pay for the everyday running of their operations.
All the benefits are designed to facilitate the managing and operations of the small-enterprise business model.
Using the above-mentioned cards, members can collect the following in rewards points:
- Card Rewards – Up to 1.25% back on all purchases;
- Fuel Rewards – Up to R2 back on every litre of fuel purchased at Caltex;
- Travel Rewards – International – Up to 40% back on international flights on Etihad Airways, plus an instant 15% discount when booking through the UCount Rewards Travel Mall;
- Travel Rewards – Domestic –Up to 40% back on all domestic flights booked through the UCount Rewards Travel Mall; and
- Retailer Rewards – Up to 5% back for purchases online and/or in-store at any of our Rewards Retailers,.
Members can also collect:
- Tier Rewards – Up to 400 Tier Reward points each month depending on their Rewards Tier
- Dual Membership Rewards -3600 Dual Membership Rewards if they hold membership of both personal and business programmes.
- Social Rewards – Up to 760 rewards points on Social Media for members who link their Twitter and accounts
Ten (10) reward points are equal to R1, and the number collected and how fast depends on two variables, i.e. The Rewards Tier (the higher the rewards tier, the more points are collected) and the value of monthly card spend.
“There are five rewards tiers which are dependent on the number of Standard Bank products and services the business chooses to use on a monthly basis,” said Fayelizabeth Foster, head of loyalty and rewards at Standard Bank. “The higher the rewards tier, the more rewards points can be collected from qualifying purchases.”
According to Standard Bank, the new rewards offering includes embedded business support services such Marketing & Sales, Legal & Tax, Technical Support and HR Consult.