eBucks, the reward of choice, has announced that since the programme was launched by FirstRand Bank a few years ago, R1 billion worth of eBucks has been allocated by its partners. First National Bank (FNB), eBucks' biggest partner, has allocated the greatest share of the billion.

Lezanne Human, the CEO of eBucks, says: "In allocating R1 billion, eBucks has become the first multi-partner programme in South Africa to reach this tremendous milestone. This achievement is a reflection of the power of partnerships and testimony to eBucks' unrivalled position as South Africa's leading rewards programme."

Human explains that the eBucks business model is based on its partners allocating eBucks to their customers to reward them for their loyalty. 

"The success of eBucks is due to a number of factors. But a key component has been our ability to deliver a programme that encourages high member activity and involvement, which in turn has a positive impact on our partners' bottom-line. It also ensures that our members feel rewarded," says Human.

"A good indicator of whether a rewards programme is delivering value to its partners and members lies in both the amount that partners allocate to members and the extent to which members then spend those rewards."

Human explains that the spending of rewards by members forms a crucial step in the process. "As soon as members use their rewards it impacts on their behaviour, kick-starting the 'earn and spend' cycle." 

Internationally the spend-to-earn ratio is widely used to measure the success of a programme as an indicator of member activity levels and 'health'. eBucks enjoys a spend-to-earn ratio of more than 80% while the international benchmark for developed countries stands at 70%.

"Because eBucks functions like a virtual currency, the programme offers members the greatest flexibility and variety of options on when, where and how to spend their eBucks, making eBucks South Africa's most relevant and tangible rewards programme," says Human.

eBucks was recognised as South Africa's most valuable rewards programme in the retail sector and the most valuable multi-partner rewards programme by Razor's Edge Business Intelligence in their 2007 'Value in Rewards Programmes' report. The survey recognised eBucks for its flexibility, wide range of earn opportunities, effectively unlimited list of spend opportunities (rewards), large in-store partners, and the numerous different channels available to members to spend their eBucks through.

Innovation has played an important role in delivering the widest range of choice to members out of all the rewards programmes in South Africa. Since its inception in 2000, eBucks has launched numerous rewards industry firsts, such as its virtual vouchers, highest unique bid auctions, micro-payment facility, and many more.

"You can buy almost anything with your eBucks," says Human. "And with their share of R1 billion worth of eBucks, our members have certainly been able to extend their personal spending power."

In celebration of reaching the R1 billion milestone, Keith Kirsten Horticulture International was commissioned by eBucks to build a giant maze, which was designed by Ray Hudson, the multi-award winning designer of the annual Kirstenbosch South Africa Exhibit at Chelsea Flower Show in London. The eBucks Big Green Maze is completely eco-friendly and only indigenous flora was selected to keep in line with eBucks' commitment to the preservation of South Africa's environment. After the event, the trees and shrubs will be transplanted to a FNB affordable housing project in a nearby community, thus making the maze in essence a sustainable entity.

The eBucks Big Green Maze is situated at the corner of Montecasino Boulevard and Witkoppen Road, Fourways and is open from the 21st to the 30th of March 2008 between 10:00 and 18:00. Entrance is free.

About eBucks:

eBucks, the rewards programme offered by First National Bank (FNB) and RMB Private Bank, is acknowledged as one of South Africa's leading rewards programmes with highly active members spending in excess of 80% of the eBucks earned in any given month.