AIB has teamed up with global payments group Visa to introduce a rewards scheme that will offer cashback to the bank's customers whenever they shop with certain retailers.
This includes the German discounter Lidl, which has kicked off its participation in the scheme by offering €10 cashback when customers spend a minimum €35 in store using an AIB Visa debit or credit card. The offer lasts until May 24th.
This is thought to be a first for Lidl in Ireland and is regarded a toe in the water by the company in the customer loyalty area.
Called “AIB Everyday Rewards”, the new scheme requires AIB customers to register their Visa debit or credit cards online.
They will receive cashback into their accounts within five working days whenever they use their cards to purchase items from more than 70 merchants here.
There are no vouchers or codes involved in the scheme, which allows AIB customers to register up to five cards each.
The list of participating retailers includes Boots, Eason, Topaz, H&M, Elvery Sports, Apache Pizza, Enterprise Rent a Car, and Butlers Chocolate Cafe. The scheme begins on Thursday.
Philip Konopik, Visa's country manager for Ireland, said the new programme would mark a "significant step change" in loyalty schemes here, offering cashback of between 10 and 20 per cent of the value of a transaction.
Visa cards account for more than €1 in every €3 of Irish consumer spending. Mr Konopik said individual customer spending details would not be shared with retailers.
However, merchants will receive aggregated data for customer spending, which will allow them to tailor offers for scheme members.
Brian Keating, director of group propositions and brands with AIB, said the partnership with Visa would offer its customers a "really simple and straightforward way" to receive cashback when they use their cards with participating retailers.
“We are really excited about this innovative programme and the benefits it will provide our customers,” he said.
Kurt Rosen, director of administration with Lidl Ireland said: "Lidl are delighted to participate in the programme with AIB and to be part of rewarding customers who are doing their full shop in Lidl.
“We believe in offering customers more range and more value and, with this simple cashback reward, we believe it will encourage more and more people to use their Visa card in any of our 150 stores nationwide.”