FNB's eBucks expansion with Pick n Pay set to revolutionise grocery shopping in SA

L to R: FNB eBucks CEO, Pieter Woodhatch, FNB Personal Segment CEO, Lytania Johnson and Pick n Pay CEO, Sean Summers. Image supplied.

As of 1 April, this expansion will significantly increase the number of eligible FNB customers who benefit from the partnership from 1.4 million currently spending at Pick n Pay to the full FNB base of 6.4 million active eBucks members.

Since November 2024, the partnership has exceeded expectations, with FNB seeing behavioral changes despite being available to only 20% of its customer base up until now.

Pick n Pay and FNB boost rewards: Earn up to 30% back with expanded partnership

27 Feb 2025

FNB Private clients who opted in have increased their spend, and 90% of this increase is from customers who previously spent less than 20% with Pick n Pay but have now shifted to the retailer as their primary grocer, shopping full grocery baskets.

Increase in online shopping

The up-to-30% discount for on-demand delivery through Pick n Pay asap! has driven a 98% increase in online shopping amongst these customers since November 2024.

Spending on clothing has also risen, showing that the partnership’s appeal extends beyond groceries to other product categories.

The partnership will now extend to FNB’s Personal Segment, which spent R57bn on groceries last year. From 1 April, Premier FNB cardholders will now also earn up to 30% back in eBucks on Pick n Pay’s asap! service and up to 20% in-store (including clothing and liquor), while Aspire cardholders will receive R150 in eBucks vouchers every month.

SMEs to also benefit

New from 1 April will also be the ability for over one million small and medium enterprises (SMEs) and larger enterprises banked with FNB Business to get up to 30% back in eBucks on their Pick n Pay asap! purchases and up to 20% in store, including Pick n Pay Hyper.

Businesses can earn eBucks on all purchases at Pick n Pay – including office essentials and sundries such as business stationery, office kitchen & cafeteria items, cleaning & hygiene items and more. This is expected to deliver huge savings, helping businesses to grow.

The eBucks programme gave back R1.2bn to customers over the past six months, and eBucks spending at Pick n Pay has continued to grow since 1 November as the retailer positions itself as the retail shopping destination. Customers also benefit from the retailer’s Smart Shopper loyalty programme, effectively doubling their rewards on everyday purchases.

In addition, 400,000 vouchers for the “99c bread offer” were issued to FNB Easy customers in December 2024 alone, doubling the basket size for FNB’s Easy customers at Pick n Pay since it launched in September 2024. This illustrates that the retailer has become one of the preferred stores for grocery shopping.

FNB forecasts that it will issue between four and six million bread vouchers in the next financial year.

Potential for even further expansion

The early success of this partnership signals strong potential for further expansion, which is already on the cards. This includes rolling out 33 new FNB banking kiosks in Pick n Pay stores countrywide by June 2025, with plans to grow this to 100 stores by June 2026.

With further initiatives planned to enhance customer benefits, this collaboration is set to be a game-changer in the rewards landscape and for customers.

Pick n Pay CEO Sean Summers comments, “Our strategic partnership with FNB is set to transform shopping behaviour thanks to the attractive earning potential for customers, especially with even more exciting benefits in the pipeline.

“It is a huge priority to improve our offering to customers, and this partnership will play a key role in adding even more value for both Pick in Pay and FNB customers. We’ve seen very promising results in just four months with only a select group of FNB cardholders. We are firmly focused on growing the popularity of our stores as the preferred grocery destination for millions of FNB customers who can now take advantage of these incredible eBucks rewards.

“Smart Shopper is one of the most highly regarded loyalty programmes in South Africa. Launched over 10 years ago, this programme has given our customers tangible, real rewards with cash back in their pockets during each shop and for later shops. Now, with eBucks, they can save even more, and we are already seeing the results, which means customers are already benefiting from this partnership.”

eBucks CEO Pieter Woodhatch reaffirms the bank’s commitment to helping customers maximise their rewards, “At FNB, we believe in putting more money back into our customers’ pockets as part of supplementing their disposable cash for daily and monthly needs. By continuously evolving our eBucks programme and working closely with Pick n Pay, we are committed to providing even greater savings and convenience. This is an incredible commitment for FNB on a free programme with no monthly costs. This is also offered on all spend and not just on credit spend. In addition, we use the buying power of FNB to double the value that we’re able to offer to our clients on their grocery spend.

“With the cost of living constantly rising, we believe this partnership has the potential to help FNB and Pick n Pay customers to experience meaningful savings that will boost their household budgets, which speaks to our aspiration of solving our customer needs. The fact that we are seeing behavioral change is testament to the strength and credibility of the eBucks programme” Woodhatch concludes.