FDH Bank inculcates cashless business transactions through 3-months ‘FDH POS Swipe & Win’ promotion it organised for clients from July

* Final monthly draw identified 20 winners of K50,000 each worth of shopping vouchers

* Nine winners went away with fuel vouchers worth K40,000 each

By Duncan Mlanjira

FDH Bank says it is pleased that its clients positively responded to the 3-moth promotion it organised that encouraged its clients to utilize its point of sale (POS) services in supermarkets and fuel filling stations in order to inculcate a cashless spirit of doing business transactions.

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This was said by FDH Holdings’ Senior Marketing Manager, Ronald Chimchere on Monday at the conclusion of the ‘FDH POS Swipe & Win’ promotion, whose final monthly draw identified 20 winners going away with K50,000 each worth of shopping vouchers and nine winners of fuel vouchers of K40,000 each.

Chimchere said as a leading digital financial service provider, they decided to inculcate the cashless culture which is convenient for the public as they don’t have to carry too much cash on them.

He also said this reduces paper money transactions — thus lessening the burden by the financial regulator, the Reserve Bank of Malawi, from continuous replacement of bank notes.

Journalist Chimwemwe Mangazi helping out carry the final draw as an independent

“Printing of bank notes is very costly as it is done outside the country and if we help the regulator from continuous replacement of paper money, we contribute towards the control of our economy [by saving on forex through its printing costs].

“From the outset, CoVID-19 pandemic’s preventive measure of observing social distance and staying at home, motivated people to carry on their daily business transaction through digital means and we decided to enhance this spirit through this promotion.

“We are extremely pleased that our clients responded positively as their support was overwhelming. We encourage clients to continue the spirit of doing cashless transactions as we migrate into a digital world.

“There are no transaction fees attached to our POS services as they would be required to pay when cashing out bank notes at our ATMs,” Chimchere said.

The promotion was launched in July and each month, lucky clients were receiving the K50,000 and K40,000 shopping and fuel vouchers respectively.

Going forward, Chimchere said they would continue motivating their clients through various innovations that are also meant to show the bank’s appreciation of their clients custom.

Last month, FDH Bank — which if the official sponsor of Malawi national football team, the Flames — launched ‘Go Konko Ndi Flames’  promotion, whose two grand prize winners shall be sent on fully-paid trip to Cameroun to watch the team participate at the 2022 Africa Cup of Nations (AFCON).

The promotion runs up to December and all it takes is for existing clients or new FDH Bank savings accounts to maintain a balance of K50,000 in their accounts for one month.

The new clients are encouraged visit their nearest FDH Bank Plc branch or Banki Pakhomo agent and keeping it for one month and as one way of observing CoVID-19 preventive measures, clients are also encouraged to be transacting on FDH Mobile Banking facilities for at least five times a month on bill payments, sending money to loved ones or buying airtime top up to qualify for the promotion.

Monthly prizes before the grand draw include five winners each winning  a DStv decoder plus two months premium package subscription as well as 10 each for GOtv decoder plus two months subscription.

There will also be K50,000 cash prize each for 30 winners in two monthly draws.

FDH Bank is the official sponsor of the Flames

In support of the qualification, the bank also launched ‘FDH Flames Friday’ campaign as a gesture of total support for the national flag carriers that was rolled out in April.

This is to celebrate Malawi’s feat having last qualified for the continental showpiece in 2010 in Angola. Their first qualification was first made in 1984 that was hosted by Côte d’Ivoire.

FDH Bank has been the official sponsor of the Flames for the past six years now with a yearly package of K60 million and it also opened a K100,000 investment account to 30 squad players as token of appreciation for the win over Uganda that sealed the AFCON qualification.

The FDH-FAM partnership started at K30 million from 2016 but was increased to K60 million in 2019, in cognizance that football development needs massive investment for national teams to produce results.

Also in 2019, FDH Bank raised the bar in cup sponsorship by unveiling a K90m Cup in a five-year package of which the winners shall receive K25 million while the runners-up will go away with K8 million.

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