Equity Bank, Mastercard In Cash Back Initiative To Boost Card Payments

Kenya one thousand Notes Currency (Courtesy)

Equity Bank in partnership with  Mastercard have unveiled a new drive that will see 700 consumers get cash back at Point of Sale (POS) payment for goods or services purchased. The initiative which is dubbed ‘Mastercard Cashback’ will give consumers 100% cash back in a bid to expand cashless transactions.

Customers using their Mastercard debit cards to pay for goods and services will be entered into a draw within the promotion period for a chance to qualify for the incentive . Further, customers who reactivate their Mastercard debit cards will be entered into a draw for a chance to participate. This promotion is is open to all customers using Equity Mastercard debit cards including Platinum, World, World Elite and Classic.

Equity Bank Mastercard customers can make their payments at any outlet that displays the Mastercard or Equity Bank sign such as Supermarkets, clothing stores, restaurants, petrol stations, chemists, hospitals or online.

By the end of 2018, the lender’s transaction value for debit and prepaid cards hit the Kshs16 Billion mark for both inbound and outbound transactions. The Bank has a network of 17,720 POS merchants across the country whose turnovers totaled Ksh95.0 Billion, a 37% growth from the previous year’s Ksh69.3 Billion.