ZB Bank clarifies its SnapCash “cashback” loyalty program as steps to re-engage after sanctions lift

Earlier today we published an article on ZB Bank launching a “cashback” service that seemed to reward already privileged clients for using their VISA/Mastercard at participating stores.

We sought clarification from ZB Bank and the main point we gathered from their response was that the new service is based on their re-introduction to international banking services through the recent lifting of sanctions imposed on them, the news they shared with clients via their Facebook page. On the issue, ZB said:

…ZB was on 4 October 2016 removed from the US OFAC sanctions list. This now paves the way for us to re-engage and return to Visa and MasterCard products in due course.

Part of its efforts to re-engage with the international banking service is promoting the future use of their clients Visa/Mastercards by allowing them to join a loyalty programme in partnership with CashbackAPP where participants receive varying points from different merchants dependent on the money spent and the different discounts offered (T’s & C’s apply).

On the main aim of the loyalty programme, ZB Bank offered the following response:

The main aim of launching this loyalty programme is to give value to our customers and also encourage the use of plastic money through offering rewards.

ZB Bank has opened the service to all cardholders:

…customers use the 13 digit card number that appears on all our cards, the system accept card numbers for registration..

This now clarifies our fear that the service may be limited to only a select few. ZB Bank expects more merchants to come on board the programme in due course but the big catch would most likely be retail outlets which cater for everyday shopping habits.