Stanchart deepens cashless transactions with new campaign

Standard Chartered Bank has launched the ‘Fly to Dubai’ campaign which is aimed at promoting cashless transactions in the country.

The campaign, which runs from December to March 2020, will reward customers of the bank who use their cards to make payments.

At the end of the campaign, the ultimate winner will be rewarded with an all expenses paid trip to Dubai for three nights, plus US$500 spending money.

Speaking at the launch of the campaign, the Head of Products and Segments of Standard Chartered Bank Ghana Limited, Mr Bossman Kwapong, said the bank had been able to deepen card transactions with such campaigns in the past.

“When we started these campaign three years ago, we had just 10 per cent of our clients consistently using their cards to make payments and we realised that this was due to the lack of education and a a bit of behavioural pattern.

Ghanaians are used to paying with cash, but as we run these campaigns we have realised that we have been able to move it to a high of 40 per cent.

This is still short of where we want to be as we want every payment to be made with a card if possible so that we can avoid our reliance on cash,” he stated.

Digital journey

Commenting on the bank’s digital journey, he said about 90 per cent of accounts were now being opened through a digital channel, which is the mobile application.

“Of all the transactions that we do as a bank, about 92 per cent of those transactions are being done on an ATM or using the application and that is how we have been able to migrate a lot of our transactions from our traditional module to a digital module.

“We are hoping that by the end of 2020, we will be doing about 95 per cent of all our transactions on a digital channel,” he said.