FNB’s Pick n Pay partnership is rocking

FNB’s new partnership with Pick n Pay is off to a strong start, with the bank looking to expand the offering to more of its client base just three months after launching. 

The bank is set to expand the offering to its Personal segment, which incorporates more than 20% of its total retail client base. Crucially for Pick n Pay, these clients spend R57 billion a year on groceries. 

This was revealed by the companies during an event documenting the growth of the program since its launch on 1 November 2024.

As of the end of February, Pick n Pay is the primary retail partner of FNB, with the bank ending its partnership with Checkers. This means that from 1 October, Pick n Pay will be the exclusive grocery burn partner for eBucks.

Currently, 1.4 million FNB customers benefit from the partnership from the bank’s total eBucks client base of 6.4 million.

The bank said the partnership has exceeded expectations, with FNB seeing behavioural changes despite being available to only 20% of its customer base up until 1 April. 

FNB Private clients who opted in have increased their spending, and 90% of this increase is from customers who previously spent less than 20% with Pick n Pay. 

A large share of these private banking clients, all earning above R720,000 a year, have now shifted to the retailer as their primary grocer, shopping full grocery baskets.

The up-to-30% discount for on-demand delivery through Pick n Pay asap! has driven a 98% increase in online shopping amongst these customers since November 2024. 

Spending on clothing has also risen, showing that the partnership’s appeal extends beyond groceries to other product categories.  

From 1 April, FNB Premier cardholders will now also earn up to 30% back in eBucks on Pick n Pay’s asap! service and up to 20% in-store, including Clothing and Liquor, while Aspire cardholders will receive R150 in monthly eBucks vouchers. 

The partnership will also expand to FNB’s one million small and medium enterprises (SMEs) and larger enterprises banked within its business banking division.

These clients will be able to get up to 30% back in eBucks on their Pick n Pay asap! purchases and up to 20% in-store, including Pick n Pay Hyper. 

Businesses can earn eBucks on all purchases at Pick n Pay – including office essentials and sundries such as business stationery, office kitchen & cafeteria items, cleaning & hygiene items and more.

The eBucks programme gave back R1.2 billion to customers over the past six months, and eBucks spending at Pick n Pay has continued to grow since 1 November, eBucks CEO Pieter Woodhatch said. 

FNB is also growing its physical presence in Pick n Pay stores, with it rolling out 33 new FNB banking kiosks in the retailer’s stores countrywide by June 2025, with plans to grow this to 100 stores by June 2026.

“We’ve seen very promising results in just four months with only a select group of FNB cardholders,” Pick n Pay CEO Sean Summers said. 

Benefits available at Pick n Pay to FNB customers 

Existing – 

• FNB Easy customers – Shop and swipe your FNB Easy debit card to get a voucher to receive a Wifi code from FNB that allows you to pay 99c for a 600g loaf of Pick n Pay Bakery white or brown bread on your next shop at Pick n Pay. Customers get four vouchers a month. 

• FNB Private Clients, Private Wealth and RMB Private Bank Customers – Earn up to 30% back in eBucks on Pick n Pay asap! and 20% back on in-store spend at Pick n Pay Clothing or Pick n Pay Liquor.

Pick n Pay Clothing benefits only – 

• Aspire: Up to R150 back in eBucks

• Premier: Up to 20% back in eBucks

• Spend eBucks in any Pick n Pay store, including Liquor and Clothing

As of 1 April 2025 – 

• FNB Aspire customers – Earn up to R150 per month back in eBucks when shopping in-store, using Pick n Pay asap! or buying from Pick n Pay Clothing respectively. 

• FNB Premier customers – Earn up to 30% back in eBucks on Pick n Pay asap! and 20% back on in-store spend at Pick n Pay Clothing or Pick n Pay Liquor.

• FNB Business customers: Small and medium enterprises (SMEs) and larger enterprises banked with FNB will earn up to 30% back in eBucks on their purchases at any Pick n Pay store, including Pick n Pay Hyper.

FNB said the partnership is likely to be expanded in the future, with it planning a further announcement with Pick n Pay in September.