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First National Bank Ghana launches first-ever cash rewards for card swipes

The programme, which is the first of its kind in Ghana, would see cardholders earn back a percentage each time they use their Visa debit cards.

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First National Bank Ghana Ltd has become the first bank in the country to launch a programme that rewards customers for everyday non-cash transactions.

The programme, which is the first of its kind in Ghana, would see cardholders earn back a percentage each time they use their Visa debit cards.

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Speaking at the launch of the first-ever cash rewards programme in Ghana, Head of Retail Banking at First National Bank Ghana, Hannah Annobil-Acquah, said the idea is in support of government’s plan to institute a cashless economy.

According to her, this process has been in operation in other African markets, and it’s time it was brought to Ghana.

“We fully support government’s agenda to turn the Ghanaian economy into a cash-less economy where people transact easily with electronic cards,” she said.

“We’ve done this in several other markets in Africa – from South Africa to Zambia and Namiba. The drive to a cash-lite agenda comes more easily than any other bank in the country because it is in our DNA and is at the heart of our strategy to become the most helpful and innovative bank in Ghana.” 

Although ATM transactions are not eligible for the cash rewards programme, First National Bank Ghana will pay back a percentage of whatever amount a customer purchases using their Visa debit card each month.

Explaining how the process works, Mrs.  Annobil-Acquah said: “Imagine you go to a home appliances shop to buy a fridge or a TV set and use your First National Bank Visa debit card to pay GH¢5,000 for the entire transaction. We, at First National Bank, will pay back to you a percentage of the transaction value into your Savings Pocket as a reward for using your card and by so doing encourage others to keep using their Visa debit cards.”

“This is not a promotion. It’s a lifestyle we want to seriously encourage as part of our strategy to push the government’s cash-lite agenda. It doesn’t matter where you swipe, the machine you swipe on or where in the world you swipe. As long it’s you have a Gold or Platinum Visa debit card issued by First National Bank Ghana, you will get your cash reward,” she added.

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Aside the use of Visa debit cards, online purchases, POS payments in restaurants and supermarkets anywhere in the world and transactions on electronic payment platforms like ExpressPay, are also eligible for the cash reward programme.

According to the Head of Marketing and Corporate Affairs at First National Bank Ghana, Delali Dzidzienyo, the reward programme is geared towards to increasing the number of electronic payments cards and the volume of card transactions.

“We are of the view that promoting a cashless economy is prerequisite for attaining the objective of increasing financial inclusion,” he said, adding that “using our Gold and Platinum Visa debit cards provides many benefits to our customers – including convenience, security and the ability to track one’s spending. On top of these benefits, we are saying we’d pay you for using our cards”.

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