Members of eBucks, the popular loyalty programme offered by FNB and RMB Private Bank, have spent R2 billion worth of eBucks since its inception in 2000, showing that loyalty not only makes 'cents' – but billions, eBucks CEO Jolande Duvenage announced today.

"eBucks has proven to be a big success. Reaching this milestone proves that our members are finding the programme to be of real value, and more importantly, that it is making a meaningful difference in their lives," says Duvenage.

eBucks members earn eBucks when they pay for goods with qualifying FNB or RMB Private Bank cards, with the potential to earn even more if they make purchases at one of the programme's 22 'earn' partners. They can then spend their eBucks at one of the programme's 'spend' partners, which include 36 online and 'brick and mortar' retailers, the eBucks shop (www.eBucks.com) and participating Engen service stations and at participating McDonalds restaurants.

Members have spent their R2billion worth of eBucks on a wide range of items - from essentials such as airtime and medicine to bigger ticket items like overseas holidays, high-end furniture and the latest gadgets.

"The concept is simple," says Duvenage. "Ten eBucks is worth R1 – and it always has been, so it is easy for members to translate that eB1000 will get them R100 to spend on anything they like. At the end of the day, eBucks is like getting that tank of fuel or flat screen TV, for free."

Since its launch in 2000, eBucks has introduced a number of innovations, including becoming the first online supplier of Lotto tickets; introducing the eBucks for Business programme; providing access to discounts of up to 40% on selected products; and becoming the first rewards programme to give consumers the ability to purchase fuel using its rewards currency.

According to Duvenage, the addition of partners like Makro, Engen, Incredible Connection, Cape Union Mart and more recently Dis-Chem Pharmacies, has further contributed to members spending their rewards almost as quickly as they earn them.

"More than 80% of the eBucks earned by our members are spent every month, showing that members do find value in their rewards and frequently use them to make purchases," she says.

According to Duvenage, some members view eBucks as putting cash back into their wallets, with many members including their eBucks spend in their monthly budget. Other members are using their eBucks to stretch their wallets, and to get more 'bang' for their bucks, especially in the current tough economic climate

"eBucks has become a way of life, with a substantial number of members adapting their shopping and banking behaviour to earn as many eBucks as possible, whether it is to buy necessities like petrol or groceries when they are strapped for cash, or to spoil their families and friends with special treats and gifts," she says.

"I have heard many stories where eBucks has really made a meaningful difference in our members' lives. I know we have done our job when a member uses all the eBucks they have saved up during the year to buy their child a toy for Christmas, despite not having any cash left after paying the bills. Those moments of magic are what our programme is all about," concludes Duvenage.

What could you buy with R2billion?

We all know that R2 billion is a lot of money – but what exactly could eBucks members have bought, if they'd blown it all on one of these items?

• 3 480 years of airtime, for non-stop talking
• 400 000 flat screen TVs
• Enough fuel to drive along the Equator 52 000 times. If you buy your fuel quickly now, before the price goes up again.
• 800 000 flights between Joburg and Cape Town
• Enough CDs to listen to music for 114 000 years – non stop

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.