Checkers and Standard Bank versus Pick n Pay and FNB

Standard Bank is collaborating with Shoprite Group, South Africa’s largest retailer, to help households maximize their grocery budgets to ease financial pressures and provide value to customers.

Standard Bank explained that this collaboration boosts UCount Rewards benefits and will allow customers to redeem Rewards Points for groceries and other products both in-store and online.

“This partnership unlocks powerful synergies between Africa’s largest bank and Africa’s most extensive retail network – ensuring that customers enjoy greater savings and rewards on everyday grocery purchases,” said Funeka Montjane, chief executive of personal and private banking at Standard Bank.

“Redeeming UCount Rewards Points for groceries will ease the pressure many households feel at the tills.” The partnership comes as food prices climb despite slowing inflation.

The latest Pietermaritzburg Economic Justice and Dignity Household Affordability Index shows the average Household Food Basket rose by 2% year-on-year this January, costing R1,032 more than three years ago.

“With rising costs of utilities, fuel, and other essentials, households are feeling the strain. Initiatives like this are crucial in easing financial stress,” Montjane explained.

Reflecting shared values of uplifting lives and driving Africa’s growth, the partnership between Standard Bank and the Shoprite Group goes beyond Rewards Points, the bank noted.

“It leverages the retailer’s network of over 3,000 stores and digital platforms like Sixty60 to deliver personalised rewards. With brands like Shoprite, Checkers and Checkers Hyper, this partnership tailors rewards to South Africans’ diverse needs and pockets.”

From April, Standard Bank UCount Rewards members will receive the following benefits on every product, every day including:

• Up to 30% back in Rewards Points in-store at Shoprite and Checkers.
• Up to 40% back in Rewards Points from Sixty60.
• Flexibility to redeem Rewards Points both in-store and online.

“We focused on what truly matters to our customers and aligned the UCount Shoprite rewards with their daily needs to ensure meaningful value with every swipe,” Montjane said.

“By combining Standard Bank’s data insights with the Shoprite Group’s retail expertise, we’ve created a seamless and innovative rewards experience that also drives targeted behaviour shifts.”

Beyond Reward Points benefits, this partnership makes Standard Bank’s UCount a scalable, digital-first rewards programme, the bank added.

It aims to increase Standard Bank customers’ transaction volumes at the Shoprite Group’s stores and boost the bank’s share of grocery spend – a category where consumers spend most frequently.

FNB partnership with Pick n Pay

Notably, other banks and retailers have implemented similar strategies recently. On 1 November 2024, FNB launched its new partnership with Pick n Pay.

At the end of February, Pick n Pay became FNB’s primary retail partner, replacing Checkers, with exclusive eBucks grocery rewards starting 1 October.

Currently, 1.4 million FNB customers benefit from the partnership, with spending trends exceeding expectations.

Private banking clients earning over R720,000 annually have significantly increased grocery purchases at Pick n Pay, with 90% of the shift coming from those who previously spent less than 20% there.

Online shopping via Pick n Pay asap! has surged 98% since the launch, driven by up to 30% discounts on deliveries.

From April, FNB Premier cardholders can earn up to 30% back in eBucks on Pick n Pay asap! and up to 20% in-store, while Aspire cardholders get R150 in monthly vouchers.

The programme is now extending to FNB’s SME and business banking clients, offering similar eBucks rewards on office supplies, groceries, and essentials.

With eBucks spending at Pick n Pay steadily growing, the programme returned R1.2 billion in the past six months alone. Additionally, FNB is expanding its in-store presence with 33 banking kiosks in Pick n Pay by June 2025 and plans for 100 by June 2026.