South Africa’s largest digital bank Capitec has launched a new benefit that collectively can save its clients approximately R10 million per month.
Capitec Bank has partnered with Shell South Africa to put 20c per litre back into its clients’ pockets. While other banks’ fuel benefits require monthly admin, fees linked to their loyalty schemes and are designed with multiple tiers and hoops, Capitec offers all clients the benefit at no additional cost.
Francois Viviers, Marketing and Communications Executive at Capitec, says, “This partnership with Shell is part of our continuous drive to help our clients live better. To us, living better is not a benefits scheme that requires a monthly subscription or for clients to jump through hoops and climb tiers to gain benefits. Rather we offer a simplified approach where everyone benefits equally in a way that fits effortlessly into their normal routine.”
From 1 February, all Capitec clients can access the benefit by swiping their Shell V+ and Capitec Bank cards. Shell has over 600 fuel stations across the country, making the benefit easily accessible to Capitec’s over 15 million clients.
Palesa Mokaba, Head of Retail Marketing at Shell, says, “We are delighted to be partnering with Capitec as we are continuously seeking ways to offer South Africans value. As the bank for all, we know Capitec has the same single-minded focus. Together, we hope to help South Africans to save more during a time of significant economic stress.”
Capitec clients will also be able to get 0.5% cash back on selected items at Shell Select stores. The cashback from fuel and store purchases will be loaded into the client’s V+ wallet, which they can use to purchase anything at Shell.
Viviers concludes, “We’re democratising benefits because we don’t believe in loyalty schemes that only benefit a few. Our partnership with Shell is just the first of many benefits we will introduce this year, and for which all our clients will automatically qualify. As the bank on the forefront of innovation, we are constantly finding new ways that make our clients’ money work harder for them.”