Interswitch Transnational, a leading pan-African integrated payments company with operations in Nigeria and a growing presence in West and East Africa, announces that it is offering an enterprise-wide loyalty solution for First Bank of Nigeria Plc..
First Bank is rewarding its customers through its new loyalty point scheme -FirstClub.
The scheme enables customers (account holders and non-account holders who use First Bank channels) to earn reward points (termed First Points) whilst carrying out transactions such as monthly account balances (on both savings and current accounts), card payment via POS and web for purchases, bill payments on First Bank channels, acquisition and activation of debit MasterCard.
Customers also get extra points for joining the program and an exclusive membership card for top end customers. Exclusive members are entitled to huge discount at various merchant locations for achieving a set milestone of points balance.
Customers can redeem their First Points on the First Bank portal in exchange for various gift items, pay with their First Point for goods on PoS terminals at merchant locations or buy airtime top-up at the bank’s ATMs.
The First Point loyalty solution deployed by Interswitch for First Bank is the first of its kind in the financial landscape in Nigeria.
Interswitch is able to provide the same loyalty solution to other banks and merchants or customise the solution to suit their requirements.
The Interswitch loyalty platform is a robust platform that manages the program /scheme for merchants, banks and other institutions.
The platform can instantly identify and link the customer’s transactions to the correct scheme calculate and award the correct points to the customer.
Mrs. Ezinne Obikile, group head, Products and Marketing Solutions Support, First Bank of Nigeria Plc., said:
“We wanted to reward our customers by providing them with the opportunity to earn loyalty points when making transactions across our banking products. In addition, First Bank also derives many benefits from the scheme – namely growth in revenue from increased transaction volumes, the incentive for customers to increase their minimum balance deposit, rises in volumes of bill-payment transactions, not to mention the attraction of new customers. We are thrilled that Interswitch offers the loyalty platform to facilitate this service for us and our customers.”
Mr. Akeem Lawal, managing director, Interswitch Switching and Processing, said: “We are delighted that Interswitch is providing the loyalty solution for First Bank on its First Point scheme. The scheme hugely benefits First Bank customers who can now earn multiple reward points whenever they use First Bank customer touch-points and their cards.