FNB, Pick n Pay roll out $35 million rewards boost for shoppers

South African consumers under pressure from rising food and living costs are increasingly turning to rewards programs to stretch household budgets, pushing retailers and banks to deepen partnerships built around everyday spending.

First National Bank, a unit of FirstRand, and Pick n Pay Stores Ltd., the South African grocery chain said their joint eBucks initiative has delivered more than $35 million in customer rewards since launching a year ago, highlighting growing demand for savings linked to groceries and daily purchases. 

The partnership combines retail shopping with digital banking services, part of a wider effort by banks and supermarkets across Africa to keep customers spending within their ecosystems.

By placing banking services inside busy retail locations, the companies are also trying to make banking easier to access for consumers who may not regularly visit traditional branches. 

Since April 2025, the partnership has expanded to include 31 in-store banking kiosks and weekly pop-up banking services in more than 200 Pick n Pay stores nationwide.

The move gives FNB a broader physical presence while reducing the costs tied to opening full-service branches.

Banking moves closer to shoppers 

FNB CEO Lytania Johnson said the strategy was designed around how customers already shop and manage money.

She said offering banking services in familiar retail spaces helps remove barriers for consumers who want quicker and simpler access to financial products. 

The model reflects a growing shift in South Africa’s banking sector, where lenders are looking beyond branches and mobile apps to meet customers where they already spend time.

Retail partnerships have become one way to attract new clients while encouraging more frequent use of digital banking tools.

Rewards tied to daily spending 

For many consumers, the biggest attraction remains the savings attached to essential purchases.

Customers can receive up to 30% back in eBucks on Pick n Pay asap purchases and as much as 20% back on selected in-store spending. 

Promotional campaigns linked to the partnership have also gained traction.

The companies said the Burger Friday campaign has recorded 6.2 million redemptions, while a subsidised bread initiative has delivered about $4 million in savings to lower-income customers.

Retailers focus on loyalty 

Pick n Pay CEO Sean Summers said the partnership is helping the retailer strengthen customer loyalty at a time when many households are cutting back on non-essential spending.

He said rewards on groceries and other basics are becoming more important for shoppers looking to manage monthly expenses. 

The partnership is also helping both companies increase customer retention and spending frequency, showing how retailers and banks are working more closely together as competition grows around convenience, rewards and value for consumers.