Friday, November 24, 2006

Vodacom’s credit card offers rewards

By Cara Muller

Vodacom, one of the big cellular providers in SA, have set their sights on conquering the credit card market and have announced that with their card customers can expect to receive all sorts of rewards like cash-backs and discounts.

“The Vodacom Credit Card provides our customers with an extensive range of rewards and benefits including exclusive offers, cash backs and discounts on travel, leisure, safety and security, education and Vodacom products and services,” says Dot Field, Vodacom’s Chief Communication Officer.

Some of the benefits Vodacom credit card users can expect is 10% of their cash back in Yebo Bucks when they purchase products at a Dion store or Game and up to 2% of their monthly payments.

Yebo Bucks can be used at all Vodashops, Vodacom 4U stores, Game and Dion stores to buy cellular, electronic and technology goods.

Many of the furniture companies are also keen to partner with Vodacom Credit Card and will offer special deals for Vodacom customers brandishing this card.

“Customers will get 10% cash back when they shop at Furniture City, Geen & Richards, Dial-a-Bed and Osiers, and stand in line for Yebo Member Deals which are special deals and discounts offered to Vodacom Credit Card customers on a monthly basis,” explains Field.

Whilst it is strange to see the cellular provider operating in the financial sector this venture has the backing of Visa and is issued under license of FirstRand Bank. There are no annual card fees and customers will only pay a membership fee of R29.00 per month, which will be charged to their Vodacom Credit Card account.

In addition, Vodacom Credit Card users will receive a Yebo SMS informing them about each transaction on their card, how much was spent and where, thereby allowing users to keep track of movement on their account.

“As South Africa’s leading cellular network, we constantly seek innovative ways to reward our customers for their loyalty. The Vodacom Credit Card is yet another benefit of being a Vodacom customer and of being part of the Vodacom family,” concludes Field.

What is good to see is that banks no longer have the final say and this increased competition in the financial sector may force SA banks to rethink their high tariffs and appalling service.

South African banks up till now have not had to place much credence on what the consumer wants, but with other competitors snapping at their heels they may just have to consider writing policies that benefit consumers and not just their pockets.

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