Published on November 28, 2024 by Agencies for Kenya Online News
Last Updated on 2 years by Agencies for Kenya Online News
I&M Bank, a leading commercial bank has enhanced its card loyalty offering with the introduction of ‘I&M Milele Rewards’, a program developed in collaboration with Mastercard. The new program builds on the success of the bank’s erstwhile card loyalty initiative, which has been rewarding debit and credit cardholders for the past three years with cashback incentives on Point-Of-Sale (POS) and e-commerce transactions.
The introduction of Milele Rewards signifies a significant evolution in I&M Bank’s loyalty program, offering a more relevant and flexible rewards experience tailored to the evolving needs of our customers. This new program offers rewards for I&M Bank debit and credit cardholders, as the only bank in Kenya with a 100% payout (1:1 loyalty point to Kenya Shilling) conversion rate on reward points. With I&M Milele Rewards, cardholders can earn up to 2% back on their spending, with rewards increasing at higher card type and spend levels.
While the previous cashback only loyalty program effectively drove card usage and intensified customer loyalty, I&M Bank recognised an opportunity to enhance relevance within a wider range of customer segments. By collaborating with ICC, a leader in customer engagement solutions, I&M Bank has optimised the loyalty program to deliver more comprehensive rewards and tailored experiences in Kenya and beyond, strengthening customer relationships and enhancing product adhesiveness.
“At I&M Bank, our focus is on enriching the lives of Kenyans everywhere by providing solutions that are not only innovative but deeply relevant to their everyday needs,” said I&M Bank CEO Mr. Gul Khan during the launch of I&M Milele Rewards, the best card loyalty programme in Kenya at their Head Office in Nairobi. “I&M Milele Rewards, developed in strategic collaboration with Mastercard, is more than a loyalty program. It is a commitment to rewarding our customers with tailored lifestyle offerings and enhancing their experiences at every touchpoint. At I&M Bank we are deeply customer centric and have over the last two years launched relevant solutions for Kenyans that enhances their banking experience and with I&M Milele Rewards, we have the best payout rate in Kenya where 1 Milele Point is = 1 KES, “ he added.
The I&M Milele Rewards program was created to elevate the customer experience, providing a platform that offers substantial, flexible and accessible rewards. It allows customers to redeem their Milele Points to make bookings with over 1,650 airline & hospitality merchants worldwide and redeem their points in return for vouchers which they can spend at local merchant partners across the country.
Shehryar Ali, Senior Vice President and Country Manager for East Africa and Indian Ocean Islands at Mastercard commented, “In today’s dynamic market, debit and credit card rewards and benefits remain critical for consumers and small businesses, offering value and financial flexibility. We are excited to make it even more rewarding for I&M cardholders to unlock the best value through the Milele Rewards. Our collaboration with I&M underscores our commitment to providing consumers with a wide range of payment solutions that deliver more choice, value and impact every day.”
Through these alliance and partner ecosystems, I&M Bank is diversifying its product offerings, reinforcing its commitment to customer satisfaction and creating impact. The I&M Milele Rewards programme is a milestone in loyalty programmes within the Kenyan banking sector, setting new standards for customer engagement and rewards flexibility.
