I&M Bank has rolled out the I&M Milele Rewards, a revamped loyalty programme designed to offer more value to debit and credit card users.
Created in partnership with Mastercard, the programme aims to deliver meaningful rewards and increased flexibility for cardholders.
Unlike its predecessor, which focused solely on cashback incentives, Milele Rewards provides a more comprehensive system.
Customers can now earn up to 2 per cent cashback on spending, with the payout scaling for higher card tiers and increased transactions. Significantly, the programme features a 1:1 conversion rate, allowing every loyalty point to be redeemed as one Kenyan Shilling.
During the launch at the bank’s headquarters in Nairobi, I&M Bank CEO Gul Khan outlined the initiative’s purpose.
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“At I&M Bank, our focus is on enriching the lives of Kenyans everywhere by providing solutions that are not only innovative but deeply relevant to their everyday needs,” he stated.
“I&M Milele Rewards, developed in strategic collaboration with Mastercard, is more than a loyalty programme. 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 enhance their banking experience, and with I&M Milele Rewards, we have the best payout rate in Kenya where 1 Milele Point is = Sh1,” he added.
The programme allows users to redeem points across a wide range of services, including bookings with over 1,650 global airlines and hospitality merchants. Customers can also exchange points for vouchers at partner outlets within Kenya.
By partnering with ICC, a firm specialising in customer engagement solutions, I&M Bank has sought to ensure the rewards align with varied customer needs.
Shehryar Ali, Senior Vice President and Country Manager for East Africa and Indian Ocean Islands at Mastercard, highlighted the broader implications of this collaboration.
“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," Ali remarked.
"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.”
This initiative represents a shift in Kenya’s banking sector, as I&M Bank seeks to enhance customer loyalty and satisfaction.
With its expansive redemption options and customer-focused design, Milele Rewards is expected to influence how banks in the region approach loyalty programmes.
