Standard Bank has revised its UCount Rewards programme, effective from July 1, to offer additional methods for members to earn tiering points. These changes are designed to align with current consumer spending trends and feedback.
Expanded tiering points options
Members can now earn tiering points through streaming service subscriptions and by holding a Liberty Lifestyle Protector policy. Additionally, completing specific goals and tasks on the UCount Rewards tile within the Standard Bank App will also contribute to tiering points accumulation.
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Customer spending trends
The programme’s revisions are influenced by observed spending patterns. Fayelizabeth Foster, Head of Loyalty and Rewards at Standard Bank, highlighted that the adjustments are intended to increase the number of customers benefiting from Double Fuel Rewards.
Programme performance and popularity
A recent survey by BrandMapp rated UCount Rewards as the second most essential rewards programme among economically active consumers. Since its launch 11 years ago, the programme has experienced an average annual membership growth of 6%. To date, members have collectively earned R7.6 billion in rewards, with a significant portion redeemed for fuel. Other common redemption options include Makro, KFC, Dis-Chem, and Standard Bank’s savings and investment products.
Post-pandemic spending shifts
There has been a notable change in how members use their rewards points since the COVID-19 pandemic, with a move from luxury goods to everyday necessities. This shift reflects the broader economic impact on disposable incomes.
Adjustments to fuel rewards
In response to rising fuel costs, the average monthly fuel spend by UCount Rewards members has increased to approximately R2,035, up 35% from 2021. To address this, UCount doubled its fuel rewards in 2022, enabling members to earn up to R10 back per litre of fuel and oil purchased.
Simplified reward criteria
The criteria for earning Double Fuel Rewards have been simplified. Members now need only purchase fuel at Caltex/Astron Energy using a Standard Bank credit card to qualify. Foster noted that this change is based on customer data analysis, showing that many members already use Standard Bank credit cards for fuel purchases.
For those without Standard Bank credit cards, standard fuel rewards can still be earned when paying with debit or cheque cards.
These updates to the UCount Rewards programme are part of Standard Bank’s broader efforts to adapt to changing consumer needs and economic conditions, aiming to provide accessible and valuable benefits to its members.
