Stanbic Bank Ghana has launched a new Visa Local Card Usage Initiative. This program aims to accelerate digital payments and support local merchants across the country. The initiative rewards customers who use their existing Stanbic Visa debit and credit cards for purchases within Ghana.
This new program follows Stanbic Bank’s successful FIFA World Cup Experience Campaign. That campaign rewarded customers with all-expenses-paid trips to the FIFA World Cup for consistent use of their Stanbic Visa cards. The bank celebrated these winners as part of its 'Bank the Moment' campaign.
The launch of the Local Card Usage Initiative fits into Ghana’s broader push for a cashless economy. Digital payment adoption, such as card use, helps reduce reliance on cash transactions. This aligns with government and financial sector efforts to modernize payment systems and improve financial inclusion. Such initiatives are crucial for boosting economic efficiency and transparency.
Chidinma Braye-Yankee, Head of Brand and Marketing at Stanbic Bank Ghana, explained the initiative. She stated: “Every time a customer chooses to spend locally with their Stanbic card, they are supporting Ghanaian businesses and helping to build a stronger, more digital economy.” This highlights the program's dual benefit to consumers and the national economy. The bank is committed to driving Ghana's growth, which is a core part of its purpose.
The Local Card Usage Initiative offers customers cashback rewards when they meet specific spending goals. They also receive discounts at selected stores. Participating merchants benefit from zero fees on Stanbic point-of-sale (POS) transactions. This reduces their costs for accepting digital payments, encouraging more businesses to adopt card payments. Initial participating merchants include Hisense, Shoprite, and Decathlon, with more expected to join.
Kwame Offei, Head of Product, Personal and Private Banking at Stanbic Bank Ghana, also spoke about the benefits. He urged customers to use their Stanbic Visa credit cards for value and lifestyle experiences. The bank views the Visa credit card as a lifestyle tool that unlocks extraordinary experiences. The initiative therefore promotes not just spending but also an improved customer experience.
The collaboration with Visa is a key aspect of this program. Fabrice Konan, Country Head for Visa Ghana, praised Stanbic Bank's efforts. He noted that the program creates value for both customers and merchants. This partnership advances Ghana's move towards a cashless economy. Financial institutions are increasingly working together to enhance payment infrastructure.
This initiative represents Stanbic Bank's larger investment in Ghana's payment ecosystem. It shows the bank's commitment to rewarding its customers and supporting local businesses. This also promotes inclusive economic growth. The adoption of digital payments can stimulate economic activity and improve transaction security. Investors and policymakers will observe the uptake of such initiatives as indicators of digital economic growth.