I&M Bank Unveils “Milele Rewards” Program, Offering Card Loyalty Benefits in Kenya

I &M Bank has launched an innovative loyalty program, I&M Milele Rewards, in collaboration with Mastercard. This new initiative enhances the bank’s previous card loyalty offering, aiming to redefine customer experience by delivering more flexible and relevant rewards for debit and credit cardholders.

The launch of Milele Rewards builds on the success of I&M Bank’s earlier cashback-only program, which rewarded cardholders with incentives for Point-of-Sale (POS) and e-commerce transactions. Now, with Milele Rewards, customers enjoy more comprehensive benefits, including a 1:1 conversion rate of reward points to Kenyan Shillings, touted as the highest payout rate among Kenyan banks.

Key Features of I&M Milele Rewards

1. Flexible Rewards and High Conversion Rates:

• I&M Milele Rewards offers cardholders up to 2% cashback on eligible transactions, with higher rewards available for premium card types and spending levels.
• Points are seamlessly converted to cash at a 1 Milele Point = 1 KES rate, ensuring maximum value for customers.

2. Redemption Options:

Customers can redeem their points in multiple ways, including:

• Travel and Hospitality: Book flights and hotels from over 1,650 global partners using points.
• Shopping: Redeem points for vouchers that can be used at local merchant partners across Kenya.
• Cashback: Convert reward points directly into cash for greater financial flexibility. The program’s design, highlighted by an intuitive in-app experience, ensures that redeeming rewards is straightforward and accessible.

3. Tailored Experiences:

The program targets a broader range of customer segments by offering rewards that align with diverse lifestyle and spending needs. This includes enabling small businesses and frequent travelers to gain greater value from their transactions.

Strategic Partnerships to Elevate Customer Experience

The program was developed in collaboration with Mastercard and ICC, a global leader in customer engagement solutions. This partnership enhances the program’s scalability and relevance, positioning it as a benchmark for loyalty programs in Kenya’s banking sector.

“At I&M Bank, our focus is on enriching the lives of Kenyans everywhere by providing solutions that are not only innovative but deeply relevant to their everyday needs,” said Mr. Gul Khan, CEO of I&M Bank, during the launch at the bank’s headquarters in Nairobi. “Milele Rewards is more than a loyalty program; it’s a commitment to rewarding our customers with tailored lifestyle offerings. With our 1:1 payout rate, we now have the most rewarding loyalty program in Kenya.”

Shehryar Ali, Senior Vice President and Country Manager for East Africa and Indian Ocean Islands at Mastercard, echoed these sentiments, stating, “In today’s dynamic market, debit and credit card rewards remain critical for consumers and small businesses. Our collaboration with I&M underscores our commitment to providing impactful solutions that deliver value every day.”

The I&M Milele Rewards section within the I&M app showcases a sleek, user-friendly interface. Customers can view their total reward points, upcoming expirations, and multiple redemption options. Categories such as “Free Flights & Hotels,” “Shop for Free,” and “Points to Cash” are clearly displayed, making navigation effortless.