Barclays Bank launches 50-day credit card promotion

Barclays Bank has launched 50-day credit card promotion. PHOTO COURTESY

Barclays Bank of Kenya has launched a 50-day credit card promotion to drive the uptake and usage of the cards in the country.

The promotion will see lucky customers win 50 dream two-day holiday destinations in 50 days, depending on their usage of the credit cards. There are also a number of weekly prizes for top spenders including invites to special events and movie premiers.

The offer is valid from August 2nd to October 31st and is open for both existing and new credit card customers.

Barclays Bank’s director of retail and business banking Zahid Mustafa regretted that while over 3 million Kenyans are eligible for credit cards, the number of users remain extremely low, primarily because of lack of information. Overall, the uptake of cards increased from 11.5 million in June 2016 to 15.6 million cards as at June 2017.

Over the same period, there were less than 250, 000 credit cards in the market with Barclays controlling 40 percent of these.

“Our mandate is to inform Kenyans of the benefits that come with using cards. There is plenty of misinformation floating around, but I believe with the correct information, Kenyan are able to make better decisions in regard to cards as a cash management option. The benefits are endless,” Zahid said during a launch event in Nairobi.

In addition to the above benefits, card users will enjoy cash back benefits at the rate of 3% cash back for international spend and 2% cash back for cash spent locally.

Vimal Kumar, CEO, Retail & Business Banking at Barclays Africa Group Limited said cash management in business banking and SME sector is critical in catalyzing economic growth across Africa.

“We are aware of the cash management needs in the Business and SME sector and we have already started working towards providing a solution for this sector to put more digital capabilities in their hands.”