I&M Bank has launched I&M Milele Rewards, a loyalty program developed in collaboration with Mastercard. This new program builds upon the success of the bank’s previous card loyalty initiative, which has rewarded debit and credit cardholders over the past three years with cashback incentives for Point-of-Sale (POS) and e-commerce transactions.
I&M Milele Rewards offers rewards to both I&M Bank debit and credit cardholders, as it is the only bank in Kenya with a 100% payout rate (1 loyalty point = 1 Kenya Shilling) and the potential to earn up to 2% cashback on spending, with rewards scaling based on card type and spending levels.
Through I&M Milele Rewards, customers can now redeem their points to book travel with over 1,650 airline and hospitality merchants worldwide, as well as obtain vouchers usable at partner merchants across Kenya.
I&M Bank identified an opportunity to expand the appeal of its loyalty program to a broader range of customer segments. While the previous cashback-only program successfully boosted card usage and loyalty, the bank partnered with ICC, a leader in customer engagement solutions, to optimize the offering. This collaboration has enabled I&M Bank to deliver more diverse rewards and tailored experiences, both locally and internationally, strengthening customer relationships and enhancing engagement with its products.
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Speaking at the I&M Milele Rewards launch held at the bank’s Nairobi headquarters, I&M Bank CEO Gul Khan emphasized the bank’s commitment to innovation and customer satisfaction.
“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. I&M Milele Rewards, developed in strategic collaboration with Mastercard, is more than a loyalty program. 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 enhances their banking experience and with I&M Milele Rewards, we have the best payout rate in Kenya where 1 Milele Point is = 1 KES.” he said.
Shehryar Ali, Senior Vice President and Country Manager for East Africa and Indian Ocean Islands at Mastercard, highlighted the strategic 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. 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.” he noted.
The launch of I&M Milele Rewards coincides with I&M Bank’s golden jubilee celebration.