With growing trends in digital evolution, personalisation and having a socio-economic impact, financial services cards and payment solutions have to evolve beyond swipes and complicated rewards. Iemas Financial Services has been in the game for over 80 years and has grown into the largest financial services co-operative in South Africa.
One of Iemas’ flagship products is the Purchase Card which gives customers instant co-ownership of the business and can be used at over 12 000 retailers and which features (amongst other benefits) a cash-back bonus.
This product recently had a ‘face-lift’ to offer an even more rewarding shopping experience. The Iemas Purchase Card team answers a few questions about how they are turning things up a notch and what can be expected from the new card:
1. What is an Iemas Purchase Card and what can it be used for?
Chris Bornman (Head: Continuous Improvement and Card): The card is a safe and convenient payment method for your every-day shopping, all on one card. This includes groceries, beauty products, clothing, fuel and much more. Using your Iemas Purchase Card for your everyday items gives you cash back in your pocket, and it is safe as you do not have to keep cash on you. The card can be used at major retailers such as Pick n Pay, Spar, Game, Makro, Woolworths, Clicks, DisChem, PEP, Edgars, Shoprite and Checkers; to name a few.
2. How is the Iemas Purchase Card different from other similar products in the market?
Motinki Peta (Card Sales Consultant): Every time you use your card you earn rewards based on the amount you spent. The simplicity of the Iemas Purchase Card makes it unique in a world cluttered with complicated rules – the more one spend at participating merchants, the more rewards one gets.
3. How is the card changing?
Trudi Lombard (Acting Card Manager): We are migrating to a new system that features an online self-help platform where cardholders can calculate their estimated cashback, see which retailers they can shop at as well as access their statements. The new card also offers improved security functionalities and has a fresh new vertical look. A mobile app is also on the horizon, to manage your spend on the go from wherever you may be.
4. How is the buy aid space evolving in line with ever-changing consumer needs?
Chris Bornman (Head: Continuous Improvement and Card): Consumers are looking for convenience and instant gratification at their fingertips, so apps and rewards are vital to stay competitive in this space. In addition, the tough economic climate creates a growing need for affordable and rewarding financial products where consumers get something back. For younger generations social and economic impact is a growing trend, the Iemas Purchase Card automatically gives customers, ownership of the business. We have also experienced an increased demand for safe, secure, cashless shopping driven by a need for security and convenience.
5. Are there any more a changes that cardholders can look forward to?
Trudi Lombard (Acting Card Manager): We are working on other card solutions such as a pre-funded card that will work like a debit card. There will be no credit requirements and the cardholder will still earn rewards every time they shop. Current cardholders can look forward to more retailers as well as special promos and deals.
6. When and how can cardholders receive their new card?
Motinki Peta (Card Sales Consultant): The new card will be available from the middle of March and will be distributed in batches to current cardholders.