The Shoprite Group has announced that its Xtra Savings members can now use their rewards cards to pay for items purchased at its retail stores.
In a statement on Monday (25 October), the retail group explained that customers can do this by linking their Money Market Accounts to their Xtra Savings cards.
Paying with Shoprite’s Xtra Savings card
“Customers indicated that they like transacting with their phones, but also with a card, and some raised concerns about how to access their Money Market Account if their phone battery went dead or they forgot their phones,” Shoprite explained.
“Realising that 20 million customers already had the Xtra Savings rewards card, the Group worked on a solution.
“Customers can now link their Xtra Savings card to their Money Market Account and will be able to use these cards to pay for items provided shoppers have funds in their account. They can use their Xtra Savings cards to pay for goods at checkout points, as they would any other bank card.”
Around 530,000 Shoprite customers already have a Money Market Account, which was launched in 2020. “The development and roll out of the account have been driven entirely by customer needs,” the group’s general manager for financial services Jean Olivier said.
Money Market Account’s expanded banking services
The announcement comes just days after Shoprite said it had expanded banking services for its Money Market Account holders – including withdrawals.
Previously, account holders could only deposit funds to pay for utilities and buy groceries. Now, they have access to new transactional banking options including sending money and making withdrawals.
“As they do not only have to spend the money at stores, they can start using the account as a savings account,” the group added.
It nevertheless said it has no intention of becoming a fully-fledged bank. Instead, it will “use its size and reach and technology to provide basic transactional banking and solve basic transactional banking issues for its customers.”
To get a Money Market Account, register for a free account in-store or: