Bank of Baroda launches BoB World Benefits app. But what is it?

Bank of Baroda has launched BoB World Benefits for increasing customer engagement and providing incentives to them via providing e-vouchers and redeemable points
Bank of Baroda launches bob World Benefits on October 29
Bank of Baroda launches bob World Benefits on October 29

Mumbai: Bank of Baroda (BoB) has announced the launch of 'BoB World Benefits', a customer engagement programme that seeks to reward customers for carrying out digital banking transactions through the BoB World mobile banking app today, said a press release.

BoB launches a programme to incentivise its customers

The programme will encourage customers to accomplish milestones through financial and non-financial transactions on BoB World. Customers will earn reward points as incentives and can redeem the points from a wide range of products, e-vouchers and charitable causes available in the rewards catalogue on bob World, it added.

The 'BoB World Benefits' programme is live for all customers of the bank. Adding to this, the release said that customers are auto-enrolled in the programme. Also, new customers who open a B3 digital-only savings account through BoB World will also receive coins that can be redeemed for an OTT subscription. The B3 digital-only savings account can be opened by customers sitting at their home through Video KYC, it said.

Earning & redeeming of reward points on BoB World

"Transactions that can earn customers points include fresh activation & login to BoB World; fresh UPI activation & UPI transaction, UPI Collect, third party transfers within bank and outside, bill payments, recharges, Scan & Pay, flight, bus & hotel bookings, buying FASTag, applying for a locker and credit report generation. Each point amounts to INR 0.25 and the points are valid for a period of 36 months," the release said.

Adding to this, the release said that customers can conveniently redeem their accumulated reward points on a wide range of products across different categories such as apparel, electronics, jewellery, home decor, kitchen appliances as well as e-gift vouchers and charitable causes through the BoB World app itself.

"These redemption options have been enabled under the 'bob World Benefits' section in bob World. For a more convenient experience, customers can combine their points with cash for ease of redemption," it said.

BoB ready to increase customer engagement with its one-of-kind programme

Akhil Handa, Chief Digital Officer, Bank of Baroda said, "BoB World provides a wide range of quick, convenient and hassle-free services for customers and with the launch of 'BoB World Benefits' we are now making it rewarding too. The aim of the programme is to increase customer engagement and encourage more customers to experience and take advantage of the many features of BoB World. Customers are accustomed to receiving reward points on credit card purchases and we are now pleased to extend that experience to mobile banking too."

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)

PSU Watch