I&M Bank has enhanced its card loyalty offering with the introduction of ‘I&M Milele Rewards’, a program developed in collaboration with Mastercard to continue rewarding debit and credit cardholders with cashback incentives on Point-Of-Sale (POS) and e-commerce transactions.
Milele Rewards offers rewards for I&M Bank debit and credit cardholders 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.
According to I&M Bank CEO Mr. Gul Khan during the launch of I&M Milele Rewards 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. “
The I&M Milele Rewards offers substantial, flexible and accessible rewards and 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.
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.
“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,” said Shehryar Ali, Senior Vice President and Country Manager for East Africa and Indian Ocean Islands at Mastercard.