Absa Bank has launched a partnership with e-hailing service Bolt in a significant expansion of the bank’s rewards programme in South Africa.
As of 1 August 2020, Absa Rewards customers will earn up to 30% cashback on rides booked through the Bolt app nationwide, and up to 30% cashback on food orders booked on the Bolt Food app.
The partnership is also the first time that Bolt has partnered with a bank rewards programme – in South Africa or anywhere else in the world.
Absa believes that the partnership with Bolt complements the other Absa Rewards offerings, which include travel, lifestyle, health, grocery, and wellness brands – including recently announced partner Dis-Chem.
“Bolt is available in more cities and towns in South Africa than any other e-hailing service, making the partnership impactful for Absa customers across the country, and not just those in major urban centres,” said Christine Wu, Managing Executive: Customer Value Management at Absa Retail and Business Bank.
“This partnership marks the inception of Absa Rewards’ new Digital Lifestyle offering, which will reward our customers with big discounts on a variety of digital services. This includes entertainment, gaming, streaming, e-hailing and food delivery services, while giving back real cash. These benefits will be rolled out throughout 2020.”
Gareth Taylor, country manager for Bolt in South Africa explained that the rapidly expanding e-hailing platform – now operating in more than 33 South African cities and towns – anticipates that the Absa partnership will enable drivers and restaurants to connect with more consumers and maximise their earning potential for their own small businesses.
“Our focus is on the thousands of South African drivers who rely on Bolt to connect them with passengers and earn a steady income. This partnership with Absa introduces even more passengers to the Bolt platform, making it possible for drivers to connect with more opportunities to earn an income, so that they can continue to care for their families and loved ones,” he said.
This partnership will also allow Bolt and Absa to leverage their collective financial and transportation expertise for the benefit of their customers, drivers and businesses.
With this first brand partnership in South Africa, Bolt sets the scene for other similar agreements with brands in other sectors that will encourage more people to join the platform, and in turn, boost earning opportunities for the more than 10,000 drivers that earn a livelihood by using it to connect with clients.