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PPS and Standard Bank launch the PPS Platinum Credit Card and Payments Solutions Offering

29 January 2019 Professional Provident Society (PPS)

Using credit now and gaining long-term financial benefits may seem like worlds apart. That’s about to change.

Professional Provident Society (PPS), the financial services company focused wholly on providing solutions for graduate professionals, teamed up with Standard Bank to conceptualise and deliver two unique offerings to its member base.

The PPS Platinum Credit Card enables professional graduates to turn their accumulated reward points into profit-share savings over the long-term. PPS will offer a ‘Profit-Share Booster’, one of the unique features which makes the PPS Credit Card different in the marketplace. The Profit-Share Booster programme is in addition to a bouquet of value-added services launched through the PPS Rewards platform. Also included is a digital wallet, which connects members with retail partners for a seamless, integrated digital experience coupled with access to bespoke travel benefits. Retail partners include fuel, shopping, health and entertainment. This is a completely digital experience which will provide PPS members with the choice to enjoy tailored benefits and grow their respective Profit-Share Accounts.

For PPS members who have a practice or a business, PPS is also launching payment solutions enabling PPS members to accept a range of card transactions across various platforms.

“PPS is the only financial services company in South Africa operating under the ethos of mutuality where profits are paid back to members,” explains Billy Lynch, Executive: Strategic Development at PPS. “These new and expanded financial offerings, which complement our current range of insurance and investment solutions, are designed to deliver additional value to our members,” says Lynch.

PPS members who are business owners and take up the PPS Payment Solution offering stand to benefit from reduced costs associated with current solutions in the market through lower pricing, contributing to immediate benefit for members.

“In a world of rapid change and ever evolving client needs, success will depend on creative partnerships,” says Lincoln Mali, Head of Group Card and Emerging Payments at Standard Bank. “We are therefore very excited to be partnering with PPS in designing a superior value proposition that delivers on what matters most to PPS members.”

The products offered by PPS and Standard Bank are:
• PPS Credit Card
- Available to graduate professionals who are PPS members.
-  PPS members who have products associated with profit share are eligible to participate in the ’Profit-Share Booster’ programme offered through the PPS Rewards Programme.
-  The credit card is further complemented by a range of benefits aligned to travel, lifestyle and insurance in support of the needs and lifestyle of the graduate professional.

• PPS Payment Solutions
-  Available to all graduate professionals who are PPS members.
-  Solutions range from point-of-sale devices, mobile point-of-sale devices (which connect to a smartphone) to online transaction processing, including SnapScan.
-  This offering is tailored for members who are business owners and carries a transactional cost benefit.
-  These solutions also offer access to a self-service online platform.

 

Quick Polls

QUESTION

With regards to the COFI Bill, do you believe lumping the health and finance sector in the same basket will sustain the financial sector?

ANSWER

Yes, it forms part of the FSCA’s mandate to protect and maintain the sustainability of the financial sector, and to legislate fairness and make it the law
No, the products are different therefore the health sector should not have to be subjected to similar conduct requirements
This will cause problems. More consultations should be conducted before the final version of the COFI Bill is sent to Parliament for promulgation
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